The Jakarta Globe: "Tin plate maker PT Pelat Timah Nusantara disappointed in its debut on the Indonesian Stock Exchange on Monday, closing well below its IPO price as declining metal prices and a weak broader market took their toll.
Shares in the company, also known as Latinusa, which is a subsidiary of state-owned PT Krakatau Steel, ended their first day of trading at Rp 300 (31 cents), 7.7 percent below their offered price of Rp 325.
“I think falling tin prices and weak market sentiment were the main reasons behind Latinusa’s decline,” said Muhammad Alfatih, a market analyst with PT BNI Securities."
Monday, January 4, 2010
Steel can recycling rate in Europe reaches new record
ITRI: "The latest figures from APEAL (the Association of European Producers of Steel for Packaging) show that 70.4 % of steel packaging - principally tinplate cans -is recycled in Europe. This represents over 2.5 million tonnes of food and drinks cans and other steel containers being recycled in 2008, saving 3.9 million tonnes of CO2. According to the latest available data cited by APEAL, this places recycling rates for steel above those of other packaging materials such as plastic, beverage cartons and glass (29%, 33% and 62% respectively)."
Powerclick design from Impress
Impress Group: "PowerClick is a design feature for aluminium and steel cans that enables them to be clicked on top of each other. It can be produced for a range diameters and heights. PowerClick was selected together with 46 finished products - including cooking juices in glass bottles and liquid-filled pearls - thanks to its “ease of use, its functionality for brand owners, distributors and end-consumers alike as well as for its possible re-usability,” according to the ADICT jury."
More tinplate price rises on the way?
The Canmaker: "Tinplate prices could be on the rise again despite this year’s softening on the spot markets. And it’s all because of an expected increase in the costs of producing steel and in particular the hot-rolled coil from which tinplate is made.
There has since been rising demand for tinplate food cans. 'Tin mills in Europe are running to capacity,' says UK-based independent steel analyst Phil Rogers. 'Although the volumes produced globally have been constant at around 15 to 16 million tonnes, with gradual lightweighting of cans with thinner gauges this means growth of around 2 percent a year.'"
There has since been rising demand for tinplate food cans. 'Tin mills in Europe are running to capacity,' says UK-based independent steel analyst Phil Rogers. 'Although the volumes produced globally have been constant at around 15 to 16 million tonnes, with gradual lightweighting of cans with thinner gauges this means growth of around 2 percent a year.'"
Leading canmakers are not revealing their cards as they negotiate with the tin mills. Timothy Donahue, chief financial officer of Crown Holdings, recently told Purchasing.com that suppliers have already announced price increases for 2010, "but the outcome is somewhat less than clear". He said that "at this point, we believe there may be no more than a modest upward move or possibly a modest downward move in tinplate prices in 2010".
Latinusa sees net profit up 143% in 2010
Reuters: Indonesia's tin plate producer PT Pelat Timah Nusantara (NIKL.JK> expects net profit to climb 143 percent in 2010 to 90 billion rupiah ($9.5 million) amid increasing demand, said finance director Erwin. (Investor Daily)"
Indian tin plate makers oppose mustard oil packaging in HDG containers
Steel Guru: "BS reported that the Indian Tinplate Manufacturers Association will take up with the West Bengal government the issue of packaging edible oils.
Mr Pradeep Sharma secretary general of ITMA while addressing media persons at a conference on Wednesday said “We would appeal to the West Bengal Government to strictly enforce the PFA act in this regard.”
He said that the most prevalent packaging medium for edible oils and ghee was the 15 kilogram tin container which as per BIS standard should be made from tinplate material and the tinplate should conform to BIS standard IS 1993:2006.
He added, “Consumers are probably unaware that a few oil fillers have started using galvanized plain sheets for packing edible oils in 15 kilogram containers and are putting the health of unsuspecting consumers to grave danger. Oil packed in such containers is susceptible to contamination as GP sheets is not the prescribed material for packaging edibles.”"
Mr Pradeep Sharma secretary general of ITMA while addressing media persons at a conference on Wednesday said “We would appeal to the West Bengal Government to strictly enforce the PFA act in this regard.”
He said that the most prevalent packaging medium for edible oils and ghee was the 15 kilogram tin container which as per BIS standard should be made from tinplate material and the tinplate should conform to BIS standard IS 1993:2006.
He added, “Consumers are probably unaware that a few oil fillers have started using galvanized plain sheets for packing edible oils in 15 kilogram containers and are putting the health of unsuspecting consumers to grave danger. Oil packed in such containers is susceptible to contamination as GP sheets is not the prescribed material for packaging edibles.”"
It’s full steam ahead for Tinplate (India)
Factiva: "The stock of Tinplate Company has been the darling of investors for the past few trading sessions. It made a whopping 17 per cent gain on Wednesday, thereby taking its total return in one month to around 34 per cent, much higher than close to five per cent rise seen in the case of ET Metal Index.
For investors, it is quite obvious to ponder what to do with this stock, given the fact that many a time stocks within the small- and mid-cap space rise to new highs in a few trading sessions. Not to forget about market manipulations and stock rigging by promoters, among others.
Thankfully, in case of Tinplate, a Tata Group company, investors need not worry about such things. Rather, they should find out the steam left in this particular stock.
The company, Tinplate, manufactures tin plates, which are largely used in food packaging industry. In a developing country like India, use of tin plate in packaged foods is still at a nascent stage. The per capita tin consumption in India is only 0.3 kg compared to 1 kg in China and 8-12 kg in developed nations.
Tinplate, being the market leader, is likely to benefit from the rising demand for packaged foods from urban population and increasing use of tin plates in packaged foods. The gradual rise in confidence about the growth of Indian economy has been clearly reflected in stock price of Tinplate Company for the past several months."
For investors, it is quite obvious to ponder what to do with this stock, given the fact that many a time stocks within the small- and mid-cap space rise to new highs in a few trading sessions. Not to forget about market manipulations and stock rigging by promoters, among others.
Thankfully, in case of Tinplate, a Tata Group company, investors need not worry about such things. Rather, they should find out the steam left in this particular stock.
The company, Tinplate, manufactures tin plates, which are largely used in food packaging industry. In a developing country like India, use of tin plate in packaged foods is still at a nascent stage. The per capita tin consumption in India is only 0.3 kg compared to 1 kg in China and 8-12 kg in developed nations.
Tinplate, being the market leader, is likely to benefit from the rising demand for packaged foods from urban population and increasing use of tin plates in packaged foods. The gradual rise in confidence about the growth of Indian economy has been clearly reflected in stock price of Tinplate Company for the past several months."
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