China: Baosteel Group's Tinplate domestic prices Up for October

China's leading steel manufactures Baosteel Group has announced a rise in prices for October tinplate on improving domestic market. In particular, tin quotations in the Shanghai Futures Exchange have added USD1,341/MT (RMB 8,000/MT including currency fluctuations). Besides, local producers keep lifting CR flats prices.

As a result, quotations of coiled 0.2 mm tinplate with 2.8/2.8 g/sq m tin coating have gained $31/MT (RMB 176/MT) including currency fluctuations, rising to $1,389/MT (RMB 8,520/MT, $1 = RMB 6.1337) EXW. Those for similar 0.24 mm and 0.35 mm material have risen by $60/MT (RMB 351/MT) to $1,357/MT (RMB 8,321/MT) EXW and $1,185/MT(RMB 7,268/MT) EXW respectively.

In general, other producers will follow Baosteel Group, most market players believe, citing the pickup in demand anticipated in September among the reasons.