Japanese Tin Plate Export Price Increases by US$ 30 for Jan-Mar

Japanese integrated steel maker source said the export negotiation for tin plate by Japanese integrated steel makers came to a conclusion for the shipping in January-March 2008. Their export price increased by US$ 30 per tone for Asia in January-March compared with October-December 2008, by US$ 100 for distant plate such as Middle East. Their export price of cold rolled steel sheet for tin plate increased by US$ 30 per tonne. Total export volume was same level in January-March 2008 compared with October-December 2007. They advanced the negotiation with firm demand in mainly China and the forecast which iron ore and coal price would increase in fiscal 2008. They think next price hike for the shipping in April-June 2008. The export price is expected to continue to rise.Tin plate demand is expanding by around 10% in China and keeps good situation for such as can in South East Asia or Middle East. Meanwhile, the supply is continuing tight situation due to the evacuation of blue Scope Steel, Australian steel maker, and POSCO, South Korean steel maker. Japanese steel maker source said Chinese makers will start new thin plate plant after summer 2008. The supply and demand is expected to keep tight situation.Japanese steel makers explanted about their price hike with increasing material cost to overseas users. Users resisted the price hike when users’ price hike would be hard for can. However, users understood for stable supply. Japanese steel maker source said next price negotiation in fiscal 2008 would be hard when the export price became higher at over US$ 1,000-1,050 per tonne and users may switch over polyethylene terephthalate or aluminum from tin plate.