JFE Steel Gets US$ 10-20/t Price Hike for Tinplate to Asia

JFE Steel is concluding the price hike negotiation with Asian buyers to increase the tinplate export price by US$ 10-20 per tonne for October-December. The firm also increases the black plate by around US$ 15. The export volume is apparently as much as July-September quarter. Asian tinplate demand is firm for pineapple and other applications in Indonesia, Thailand, Malaysia, Vietnam and Philippine. The supply keeps tight with limited suppliers after withdrawal of BlueScope Steel of Australia and mill sales of POSCO of South Korea. JFE Steel sought US$ 20-30 per tonne of hike for tinplate and US$ 30 hike for black plate under tight supply to meet strong demand for manufacturers along with higher cost for tin ingot. The buyers resisted the offer when they cannot pass the higher cost price on the can products. However, the buyers finally accepted certain hike to secure materials stably. Japanese tinplate export price increased by around US$ 100 per tonne through hikes for 6 quarters in a row. The black plate export price is also increasing under the strong demand.

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