Dear friend, the following is our monthly market report update, for your reference.
Market Overview: Tin prices declined while tinplate prices remained relatively stable, keeping the market within a narrow range. October developments warrant close attention. Hot-rolled steel prices have risen, and tin prices are expected to remain volatile at elevated levels.
1.Tinplate Prices
Baosteel, WISCO and MeiSteel kept their tinplate and tin-free steel prices stable.
Most other private tinplate producers kept prices unchanged or raised them by RMB 50–100 per tonne.
In the hot-rolled medium and heavy plate market, leading suppliers raised prices by RMB 50–100 per tonne, while others kept prices unchanged.
2. Related Raw Material Markets
2.1 Hot-Rolled Steel
In September, monthly settlement prices for hot-rolled steel in northern and southern China fluctuated by RMB 28–51 per tonne month on month. So far in October, mainstream order costs have remained broadly stable, reversing the previous downward trend and showing a mild upward bias.
2.2 Tin
The spot price of tin was RMB 396,150 per tonne, down RMB 7,000 per tonne month on month. Based on estimates, for tinplate with a thickness of 0.20 mm and a double-sided tin coating of 2.8, the reduction in tin prices could lower production costs by approximately RMB 50 per tonne.
3. Market Updates
3.1 Tinplate Supply Continued to Decline in September
According to Mysteel’s monitoring of 30 tinplate producers, the operating rate in September 2026 was 83%, with capacity utilization at 67.82%. Actual tinplate output was 475,500 tonnes, down 7,900 tonnes month on month. Inventory at the same group of mills stood at 214,300 tonnes, down 7,600 tonnes month on month. In addition, a Mysteel survey of major domestic tin-free steel producers showed September output of 141,800 tonnes, up 4,200 tonnes month on month.
3.2 Tinplate Export Data
China exported 107,600 tonnes of tinplate in August 2026, down 35.42% year on year. Total exports from January to August reached 999,400 tonnes, down 21.90% year on year.
China exported 42,200 tonnes of tin-free steel in August 2026, down 3.43% year on year. Total exports from January to August reached 322,700 tonnes, down 16.40% year on year.
China’s tinplate exports had generally trended upward over the past five years. However, exports in 2026 have fallen short of expectations, with overall volumes declining. An uncertain external environment may be weighing on tinplate exports.
4. International Market News
4.1 U.S. Tinplate Imports
U.S. tinplate imports totaled 48,000 tonnes in July 2026, down 16.7% month on month and 61.2% year on year. Import value fell to USD 67 million, compared with USD 78 million in June and USD 183.5 million in July 2025. Germany was the largest supplier, followed by Canada and the Netherlands.
4.2 Exchange Rate
The USD/CNY exchange rate remained volatile, with the RMB weakening week on week.
4.3 Tata Steel Performance
In Q2 of fiscal year 2026/27 (July–September 2026), Tata Steel’s Indian operations produced 6.21 million tonnes of crude steel, up 8% quarter on quarter and 10% year on year. Steel deliveries reached 5.97 million tonnes, up 15% quarter on quarter and 7% year on year.
4.4 International Trade Policies
- European Union: The “Melted and Poured” traceability rule took effect on October 1, 2026, raising compliance requirements for steel exports to Europe. The EU also introduced provisional safeguard measures on grain-oriented electrical steel imports on September 25, with a Chinese quota of 30,693 tonnes.
- Brazil: The steel import quota expires on October 25, 2026, and anti-dumping duties on Chinese hot-rolled coil are expected to be introduced in October.
- Mexico: Anti-dumping measures on hot-rolled steel from Russia and Ukraine have been extended for five years, maintaining duty rates of 21% and 25%, respectively.
- United States: The preliminary anti-dumping margin on Chinese tinplate was set at 136.52%, with a cash deposit rate of 130.17% after countervailing-duty offsets.
- Eurasian Economic Union (EAEU): The Eurasian Economic Commission proposed a 25.2% safeguard duty on tinplate imports from China and other countries for three years. China accounted for 93%–100% of EAEU tinplate imports in 2025. Russia became China’s largest tinplate export destination in January–July 2026, receiving 73,000 tonnes out of China’s total exports of 890,000 tonnes during the period.
As peak demand season approaches in both international and domestic markets, the order cycle may help improve the tinplate supply-demand balance and support a gradual recovery from weak conditions toward a more stable, upward market.
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