Japan to Hike Tinplate Export Price for January

Japanese integrated steel makers are likely to increase the tinplate export price. They start the negotiation with Asian buyers in mid-November to increase the price for January shipment. European steel makers already started price hike negotiation in the region for January. Japanese steels try to cover higher cost for tin ingot and freight. World tinplate demand is firm for food and beverage can. Corus Group announced 6% or around US$ 70 per tonne hike for January and Arcelor Mittal announced 50 euro hike though European supply is more than the demand in the region for years. US unit of Arcelor Mittal also announced 15% hike. Asian supply is tight for most countries including China, Indonesia, Malaysia, Vietnam and Philippine while the supply is more than demand in Thailand due to higher import. Japanese steels increased the export price for 6 quarters through October-December and the price reached US$ 1,000-1,050 per tonne. The price exceeded US$ 1,100 in 2005 but the buyers shifted to polyethylene terephthalate and aluminium. However, price of PET and aluminium also increases now. They will offer certain hike to cover higher raw materials and freight for January.