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|Baosteel Cuts Domestic Tinplate Prices by 200 CNY for Jan Shipt|
According to information obtained by a source, China's Baoshan Iron & Steel (Baosteel) seems to have noticed on 28th its domestic prices of steel tinplates for shipment of January next year to each customer. It is known at present that the company lowered prices by 200 CNY ($33). Its subsidiary Meishan Iron & Steel also reduced its prices by 100 CNY (a little over $16). Baosteel had left its prices of tinplates unchanged since August shipment, so the company was to lower them for the first time in 6 months.|
Baosteel lowered its prices of tinplates by 100 CNY for shipment of July this year. As the company reduced its prices of hot-rolled (HR) steel coils by a total of 180 CNY for 2 months in a row in May and June, it is seen to have lowered its prices of tinplates for July shipment.
Baosteel reduced its prices of HR coils for shipments of October and November by 100 CNY each for 2 months in a row with a total of 200 CNY. Such room is to arise that so-called private tinplate mills are able to cut their prices of tinplates owing to a price decrease of HR coils. Accordingly, the company is likely to have adjusted tinplate prices for January shipment in order to counteract it.
The Japanese tinplate mills are now proceeding with negotiations on tinplates for Southeast Asia for shipments of January-March. They are offering an increase in price mostly by $30 but customers are showing their reluctance. Baosteel's price decrease is liable to give momentum to customers. A price increase of tinplates for the next quarter will become considerably hard. Meantime, as it falls on the demand season of tinplates next quarter, there will be no scene of a price cut of tinplates.
|last modified : Thu 04 Dec, 2014 [10:12]|