Baosteel to raise tinplate prices for October shipment
According to information obtained by a source, Baoshan Iron & Steel (Baosteel) of China seems to have noticed on 26th to raise its domestic prices of steel tinplates by CNY 150 (USD 24) for October shipment to each customer. The company left its tinplate prices unchanged for September shipment while raised its prices of hotrolled steel coils by CNY 150. It seems to have raised its tinplate prices one month late from those of HR coils. And its subsidiary Meishan Iron & Steel seems also to have raised its tinplate prices by CNY 150.
In negotiations on tinplates for the Asian region for shipment of July to September, in case of the Korean mills, with coming to the later month (September) of shipment, they had offered to reduce the range of price down, and their offer prices ceased to fall or bottomed out. In the previous quarter, prices of material HR coils dropped but in the latter part of the quarter, as there was the cases that HR coil prices turned around, the Korean tinplate prices were set slightly later than those of HR coils.
As Baosteel raised its tinplate prices for October shipment, and prices of material HR coils are rising in the Asian region, tinplates prices are thought also to rise mainly in Southeast Asia.
In negotiations on tinplates for the Asian region for shipment of July to September, in case of the Korean mills, with coming to the later month (September) of shipment, they had offered to reduce the range of price down, and their offer prices ceased to fall or bottomed out. In the previous quarter, prices of material HR coils dropped but in the latter part of the quarter, as there was the cases that HR coil prices turned around, the Korean tinplate prices were set slightly later than those of HR coils.
As Baosteel raised its tinplate prices for October shipment, and prices of material HR coils are rising in the Asian region, tinplates prices are thought also to rise mainly in Southeast Asia.