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Steel price increasing, Modo Container tried to keep competitive container price

May 03, 2017

As you might have noticed, raw material of our containers, steel price has been picking up for the past few months.

Roughly we have seen the material price of a shipping container increase by 25% since this time last year. For all container industry players, we are in the same boat. However, we will always try and stay competitive in the market and give a competitive price to customers.

The price increase of a shipping container is down to a drop in the exchange rate resulting in a higher purchasing price for suppliers. 

Another factor is the new paint spec that came into effect on the 1st April, a change from solvent based paint, to a water Bourne paint to reduce the emissions in throughout China. China produces up to 95% of the world’s shipping containers, so this news will have an impact everywhere (the waterborne coatings have been extensively tested to ensure that they deliver the same standard and level of durability). 

There is also a shortage of shipping containers with the depots throughout China having a backlog of orders and puts a later date new arrivals of new ‘one trip’ shipping containers.

We will continue to monitor developments and work to minimize any potential impact on material supply or price.