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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Baoshan Iron & Steel Co.    600019   CNE0000015R4

BAOSHAN IRON & STEEL CO.

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Tokyo Steel keeps product prices unchanged for third straight month in January

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12/15/2019 | 10:24pm EST

Tokyo Steel Manufacturing Co Ltd kept steel product prices unchanged for the third straight month in January on Monday, as it wanted to wait and confirm that the recovery in the domestic and global steel markets would continue.

Japan's top electric-arc furnace steelmaker held prices steady for all of its steel products, including its main H-shaped beams.

For January, prices for steel bars, including rebar, will remain at 62,000 yen ($571) a tonne while H-shaped beams will also stay at 83,000 yen a tonne.

"Overseas steel prices have recovered from a sharp and fast drop, but we need to make sure the current upward trend will continue," Tokyo Steel Managing Director Kiyoshi Imamura told reporters at a briefing.

Domestic market is also improving, with inventories of construction materials declining and stockpiles of steel sheets finally turning lower, Imamura said.

"An overall balance of demand and supply shows a healthy sign, but we are keeping product prices steady for now to make sure markets have completely switched to an upward trend," he said.

Tokyo Steel's pricing is closely watched by Asian rivals, such as South Korea's Posco and Hyundai Steel, and China's Baoshan Iron & Steel Co Ltd (Baosteel).

(Reporting by Yuka Obayashi; Editing by Rashmi Aich)

Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO. 1.42% 5.72 End-of-day quote.-1.74%
HYUNDAI STEEL CO End-of-day quote.
OBAYASHI CORPORATION 1.64% 1241 End-of-day quote.2.99%
POSCO End-of-day quote.
TOKYO STEEL MANUFACTURING CO.,LTD. 1.95% 784 End-of-day quote.1.03%
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Financials (CNY)
Sales 2019 291 B
EBIT 2019 17 603 M
Net income 2019 12 204 M
Debt 2019 27 624 M
Yield 2019 4,90%
P/E ratio 2019 10,5x
P/E ratio 2020 9,58x
EV / Sales2019 0,53x
EV / Sales2020 0,50x
Capitalization 127 B
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Technical analysis trends BAOSHAN IRON & STEEL CO.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 6,89  CNY
Last Close Price 5,72  CNY
Spread / Highest target 55,6%
Spread / Average Target 20,5%
Spread / Lowest Target 5,59%
EPS Revisions
Managers
NameTitle
Angui Hou General Manager & Director
Ji Xin Zou Chairman
Yong Hong Zhu Chairman-Supervisory Board
Kun Zong Wu Chief Financial Officer & Board Secretary
Ker Wei Pei Director
Sector and Competitors
1st jan.Capitalization (M$)
BAOSHAN IRON & STEEL CO.-1.74%18 264
CHINA STEEL CORPORATION--.--%12 358
DAYE SPECIAL STEEL CO., LTD--.--%10 035
JSW STEEL LTD2.00%9 387
EVRAZ PLC-2.55%7 469
BLUESCOPE STEEL LIMITED2.72%5 295