Following major criticism over the increase of its tin-plate prices, which were adjusted yearly by 69% to 78%, ArcelorMittal South Africa (ACLJ.J) has toned down prices. The decision was welcomed by the packaging industry. But tin prices have yet to respond significantly to the fresh supply problems in Indonesia, which may be partly due to the strong recovery in Chinese production.
Dr Rob Davies deputy trade & industry minister of South Africa has expressed disappointment at the failure of ArcelorMittal SA to touch a price smoothing agreement with the packaging industry in order to avoid the prospect of a tin plate price spike in 2009, which was sure to increase tinned food prices. For full story, [...]
SabMiller Plc’s South African unit reported that it is disappointed after steelmaker ArcelorMittal South Africa raised prices of tin plate. South African Breweries Limited stated: This will result in downstream suppliers in the South African packaging industry increasing prices by between 35% and 55%. For full story, click here
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