Chinese tinplate export market still quiet

Factiva: "Demand for Chinese tinplate continues to be weak, especially as offers from other countries fall below Chinese offer prices of around $1,150 per tonne fob, said traders. Few bookings have been made, except for some small business for the long-term buyers. 

'The export market is quite weak, even Baosteel has made mixed offers to different buyers,' a Shanghai trader said. 'I've heard that South Korean producers are offering below $1,100 per tonne cif for delivery in south-east Asia, which has grabbed it a bigger market share than Chinese traders,' he said. 

'South Korean products are of good quality, and their offers are quite low, partly because of the seriously depreciating won, so I have turned my export business to domestic market for a while,' said a second trader in Jiangsu province. Given the weak tinplate export market, Beijing may increase the 5% export rebate on the product, said the Shanghai trader.

'Tinplate and cold rolled coil producers are mainly state-owned steel mills, which may get support from Beijing, which is said to be reviewing the export rebates, while hot-dipped galvanizing mills are mostly privately-owned, which may get less help from the government,' he said."