Nippon Steel to Raise Sheet Export Price for Tinplate

Nippon Steel agreed with some users in export price hike of material steel sheet for tinplating by US$ 200 per tonne for April-June shipment compared with January-March. Some consumers approved the hike when demand for tinplating can keeps steady in China and ASEAN countries and international market price of steel products is surging with higher material costs, such as hot rolled sheet. The hike is expected to be adopted by the other consumers. The export price is likely to hit the record high.Nippon Steel already agreed with consumers in export price hike for tinplated sheet by US$ 200-250 per tonne for April-June shipment compared with January-March.Tinplate supply keeps tight due to strong demand from food cans in China and Thailand. Steel makers are trying hard to raise selling price of steel products when iron ore, coal and oil costs are significantly increasing.Tinplate consumers had resisted price hike for material sheet since they had not passed higher purchasing cost on their can selling price enough. However, they were forced to approve the hike when Nippon Steel agreed with South Korean re-rollers in price hike by US$ 250 per tonne higher price for hot sheet shipped during April-June.