Raw material prices from ingredients to packaging are pressuring the seafood industry, and among the sectors to feel the pinch is the canned seafood sector, an industry that has typically operated on paper-thin margins.

Experts say seafood producers can expect to see spot prices for steel used to produce cans remain high at least until the end of this year, as the global economy begins to emerge from the global COVID-19 pandemic.

"The steel markets are red hot, particularly North America and Europe but also you can say all around the world," renowned steel industry analyst Markus Moll, from the SMR consultancy in Austria, told IntraFish.