Japan Major Steels Hikes Tinplate by US$ 20/t

Japanese integrated steel makers are getting around US$ 20 per tonne of hike for tinplate export price for Asia for April-June shipment, according to reliable source. They concluded some of the negotiations. Japanese steels offered US$ 30-40 per tonne of hike. They expected the users would accept the hike under higher raw materials cost including tin when tinplate demand keeps firm in China, Malaysia and Indonesia. The users resisted the hike but they are accepting the hike under tight supply when POSCO sold tinplating line and BlueScope Steel withdrew from the market. Japanese steels are willing to increase the price more for July and after shipment to cover higher tin and other cost.