Dear friend, the following is our monthly market report update, for your reference.
Overall Market in June: The tinplate market remains stable, supported by raw material prices, with some manufacturers making adjustments; weak demand leads to divergence between market and raw material prices.
1. Tinplate Price
Baosteel, Wugang, and Meigang raised tinplate and chromium-coated steel prices by RMB 110/ton. Tinplate tin coating is calculated based on a tin price of RMB 430,000/ton.
Other steel mills either kept prices unchanged or raised them by RMB 100–200/ton.
Domestic spot tinplate prices remained stable, as shown below:
2. Raw Material Price Changes
2.1 Hot-rolled coil (HRC) prices remained stable, with a month-on-month change of -40 to +50 RMB/ton.
2.2 Tin ingot prices fluctuated.
2.3 USD/CNY exchange rate declined, which will lead to further increases in FOB prices.
3. Other China Market News
3.1 Cost & profit estimates for private enterprises:
In May 2026, the average production cost of tinplate was RMB 5,989/ton, up RMB 255/ton month-on-month; average gross profit was -RMB 49/ton, down RMB 135/ton month-on-month. Integrated producers maintained acceptable overall profits.
3.2 Survey data (Mysteel):
Among 30 monitored tinplate producers, May 2026 operating rate was 83%, capacity utilization 72%. Actual tinplate output in May was 505,000 tons, down 1.79% month-on-month. Same-sample mill inventory was 226,800 tons, down 1,200 tons month-on-month. Chromium-coated steel output in May was 135,200 tons, down 1,000 tons month-on-month.
3.3 Exports:
April 2026: Tinplate exports totaled 129,000 tons, down 11.94% YoY; Jan–Apr total 531,000 tons, down 11.59% YoY.
April 2026: Chromium-coated steel exports totaled 34,600 tons, down 44.53% YoY; Jan–Apr total 154,700 tons, down 23.61% YoY.
Overall, tinplate exports performed well in 2025 (+16.17% YoY). Growth continued in Jan–Feb 2026, but due to geopolitical conflicts, exports weakened in March–April; May data is expected to remain weak.
4. International Market News
4.1 MCC Jingcheng supplied equipment for Indonesia’s Ocean Steel Group’s hot-dip galvanizing line #2, which successfully started trial production, marking the completion of the 1250mm galvanizing/Galvalume project.
4.2 Ukraine launched an anti-dumping investigation on coated carbon steel flat products from Turkey, Vietnam, India, and South Korea (HS codes 7210.70, 7210.90, 7212.40), excluding certain tinplate for food cans. Imports from these four countries increased 4.5x between 2022–2024, pressuring local prices.
4.3 India is considering revoking tariff concessions granted to the UK under a recent FTA, in retaliation for the UK’s safeguard steel tariffs that have impacted Indian steel exports.
4.4 Serbian President Vučić met with HBIS Group chairman in Beijing, discussing the Smederevo steel plant (HBIS Serbia) and its green transition. The Serbian government will continue supporting the plant’s low‑carbon projects.
4.5 The UK confirmed a transitional arrangement excluding certain steel products from new safeguard measures. Ukrainian goods are exempt. Steel ordered before March 14 under contract may be exempt from 50% excess tariffs during July–September, provided traders have verifiable evidence.
4.6 Brazil’s Gerdau expects further restrictions on Chinese steel imports. The company links future investment and restart of a shuttered mill to stronger import protection. Rumors suggest HRC may be included in anti-dumping duties, following earlier measures on CRC and coated products.
4.7 Australia’s Anti-Dumping Commission initiated an investigation on galvanized steel from South Korea (Dongkuk, POSCO) and Vietnam (Hoa Phat, Nam Kim). Products covered: 0.3–3.5mm galvanized steel coils/sheets.
4.8 South Korea proposed anti-dumping duties of 28.16%–33.43% for five years on HRC from Japan and China, covering hot-rolled carbon/alloy steel coil, plate, and heavy plate (excluding plate, coated, stainless, and die steel).
Outlook for June
Although there will be localized, periodic pressure and some divergence in the steel market in June, for the tinplate segment:
Raw material side: HRC supply is expected to remain high, with range-bound fluctuations; high tin ingot prices provide major cost support.
Supply side: Private tinplate capacity utilization and output edged down in May under cost pressure; June supply is expected to stabilize.
Demand side: Summer food and beverage can stocking has begun, and downstream end-users will release purchase orders in an orderly manner.
Export growth for 2026 is limited; apparent consumption remains steady.
Industry participants hold a cautiously optimistic view.
Overall, fundamentals for tinplate in June are not under significant pressure, and spot prices are expected to remain in a range‑bound but slightly strengthening trend.
We have now opened order acceptance for the second half of the year. If you wish to lock in prices and secure a competitive advantage, we would welcome the opportunity to discuss this with you in detail.
www.ricpackage.com
DATA FROM@mysteel.com
