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January 2020 | Galvanized Steel and Tinplate Market Tracker


Shock price falls in tinplate contract negotiations for 2020: Global tinplate market highlights


EU producers did not have to cut prices by as much, but they did not escape the cuts entirely.

Unpleasant surprises for producers
We expected the hopes of producers for much higher prices in 2020 contracts to be dashed but allowed that the careful clear-out of stocks by EU producers might enable them to achieve a small price rise. As negotiations continued it was clear that some concessions were being made. In Asia, steelmakers were troubled by reports that non-integrated mills in South Korea had conceded price cuts of $30-40 per tonne, apparently helped by being supplied by discounted re-roll coil by local steelmakers.

However, the settlements were not driven by such special factors, but by the repercussions of price weakness in the general coil market. The biggest mark-downs in Asia, where Chinese integrated producers are at the very centre of competition with opportunistic re-roll-based tinning mills currently enjoying low buy-in prices. Under this influence prices agreed by Asian suppliers for the first quarter trimmed $100-120 per tonne from...

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