Sonoco announces 4% price rise in all its composite cans and metal ends on import tariffs on aluminium and steel

Sonoco Products Co. announced on Monday that it will raise prices on all composite cans and metal ends in the U.S. and Canada by 4%, in response to recent import tariff on steel and aluminium. The price increases will be effective from Aug. 1.  Sonoco is a US$5 billion global provider of consumer packaging, industrial products and packaging supply chain services based at Hartsville, South Carolina, United States. 

"Sonoco's global sourcing power and commitment to supply security have allowed us to effectively mitigate historic inflationary pressures," said Robin Gordon, a division vice president of sales.

"However, the recent trade announcements assigning tariffs on the steel and aluminium supply, along with strong regional demand, have placed unprecedented stress on our suppliers' feedstocks and corresponding input costs," he added.

The Trump administration implemented 25% tariff on steel imports and a 10% tariff on aluminium imports from Canada, Mexico and the European Union from June 1. This has already created supply concern and cost worries among small and medium size manufacturers of steel and aluminium products. Many companies have already announced price rise on their products and this is expected to have a ripple effect on the end products too.

Sonoco’s comprehensive range of steel, aluminium and peelable membrane opening systems for metal, rigid paper and plastic packaging have a high demand in the US and the company serves customers in 85 nations.