MARKET REPORT
The market is temporarily stable, and we are happy to assist our customers in preparing their New Year procurement plans and providing price reference.
The following is our monthly market report update. Welcome your any comments and inquiries. If any interests,please email us or call us at any time.
- Summary of tinplate price changes
BAOSTEEL, MEISTEEL, WINSTEEL: tinplate, and TFS have increased price of 10 USD/MT.
The price of other General Line tinplates has increased by 20-30 USD/MT, and then decreased by about 15-20 USD/MT, with little overall change.
- Market information
2.1 Compared to hot rolled iron rings, the southern region saw a month on month increase of 145 yuan/ton, while the northern region; Month on month increase of 57-125 yuan/ton.
2.2 The price of raw material tin ingots remains stable.
2.3 In December, the price of basic raw materials for tinplate fluctuated and rebounded. With the support of raw material costs and the improvement of downstream order acceptance, tinplate production enterprises gradually adjusted their factory prices, and the overall gross profit remained unchanged.
As we entered January, most of the forward orders have started to be received by the end of February next year, and overall demand has increased.
2.4 Tinplate supply increased by 5.84% in December and may remain high in January.
- Research on the Production Situation of Domestic Tin Plating Manufacturers
- Trend of RMB to USD ExchangeRate
2.5 From the perspective of the exchange rate between the Chinese yuan and the US dollar, the continued slight appreciation trend of the Chinese yuan may push prices higher.
2.6 The export price of Japanese tinplate has slightly fallen compared to last week and remains at a historical low.
- Changes in Export Prices of Japanese Tinplate
2.7 There is currently no sign of a resolution to the shipping incident caused by the Red Sea.
*The current changes have seriously affected the shipping costs in some regions of Europe and the Middle East, and it is expected that this event will be difficult to resolve in the short term.
*The shipping cost skyrocketed from $1000 to $4000-8000 per 20’GP, with a growth rate of 600%.
*Even our company encountered a situation where the shipping company demanded an increase in ocean freight after the departure of the ship.
- Red Sea Freight Incrasing
- Industry dynamics
3.1 In November 2023, the total export volume of tinplate in China reached 115900 tons, a year-on-year decrease of 30.48%; The total export volume of tinplate in China from January to November 2023 was 1.33 million tons, a year-on-year decrease of 7.96%.
In November 2023, the total export volume of chrome plated plates in China was 23500 tons, a year-on-year decrease of 22.47%; The total export volume of chrome plated plates in China from January to November 2023 was 304500 tons, a year-on-year decrease of 15.37%.
- 2018-2023 Tinplate Export Statistics (Ton)
According to the research on the foreign trade of tinplate in December, the export of tinplate in December still showed a broad year-on-year decline, with an increase in orders compared to the previous month, and there was a significant gap in exports throughout the year.
3.2 According to data from the National Bureau of Statistics, the dairy production from January to November 2023 was 28.016 million tons, a year-on-year decrease of 1.66%. Among them, the dairy production in November was 2.562 million tons, a year-on-year decrease of 5.88%.
According to data from the National Bureau of Statistics, the beverage production from January to November 2023 was 161.777 million tons, a year-on-year decrease of 3.99%. The beverage production in November was 10.297 million tons, a month on month decrease of 6.09%
After experiencing the chaotic market in 2023, we have not calmly welcomedthe new market in 2024; we expect that market changes and risks will continue in 2024, which will further test our company’s level and perseverance in providing services to foreign customers.
If you have any new ideas or plans for a 2024 year collaboration, our team will be happy to communicate with you and do our best to cooperate and provide our support.
RIC PACKAGE can provide you with solutions for food and chemical products, including customized product solutions and long-term cooperation plans. If you need any latest and most competitive prices, please feel free to contact us at any time.
