Tinplate price not fixedThis article was originally published in Foodnews
SPAIN's National Competition Commission (CNC) has cleared steel giant Arcelor Mittal of tinplate price fixing. Jennifer Willis-Jones writes: An investigation was launched at the end of 2008, after the Spanish Federation of Food and Drink Companies (FIAB) accused industries in the sector, including Arcelor Mittal, of fixing higher prices for tinplate destined for the canned food industry. The CNC considered there were "reasonable grounds" for an investigation into the claims, but has since concluded that "there was no evidence of prohibited practices" by the company. As regards the two key prices rises in 2008 and 2009, of EUR150 per tonne and between EUR100 -130/tonne respectively, the CNC said it occurred "in a context of price rises in hot-rolled steel, from which tinplate is made and affects 50% of its cost". The CNC added that existing documentation explained the price increase in this material, as a result of increased demand for steel in China and rising prices for raw materials such as iron and coke. Although the CNC has now closed the case, an appeal may be brought before the High Court within the next two months.