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    600019   CNE0000015R4

BAOSHAN IRON & STEEL CO., LTD.

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Tokyo Steel to raise product prices in October by 2.2%-3.4%

09/14/2020 | 11:08pm EDT

Tokyo Steel Manufacturing Co, Japan's top electric-arc furnace steelmaker, said on Tuesday it would raise its steel product prices by 2.2%-3.4% in October to reflect demand recovery at home and abroad.

The company had kept prices unchanged for all of its steel products in September for a second consecutive month.

For October, it will increase prices of 10 products by 2,000 yen ($18.9) a tonne, with those for hot rolled coils being hiked to 67,000 yen ($634) a tonne from 65,000 yen, the company said in a statement.

It will increase prices of steel bars, including rebars, to 61,000 yen from 59,000 yen and for hot-dip galvanised coils to 91,000 yen from 89,000 yen.

Prices for its main H-shaped beams will stay steady at 81,000 yen a tonne.

Overseas markets are getting stronger due to solid demand in the world's top consumer China, while there are signs that Japan's demand is picking up, especially in steel sheets used in the manufacturing industry, it 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).

($1 = 105.6400 yen)

(Reporting by Yuka Obayashi; Editing by Subhranshu Sahu)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. -4.42% 7.35 End-of-day quote.23.53%
HYUNDAI CORPORATION 0.00% 20850 End-of-day quote.30.72%
HYUNDAI MOTOR COMPANY -1.25% 236500 End-of-day quote.23.18%
HYUNDAI STEEL COMPANY -1.50% 52700 End-of-day quote.33.08%
POSCO -1.16% 341000 End-of-day quote.25.37%
TOKYO STEEL MANUFACTURING CO.,LTD. -1.33% 1115 End-of-day quote.66.92%
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Financials
Sales 2021 329 B 51 171 M 51 171 M
Net income 2021 20 839 M 3 242 M 3 242 M
Net Debt 2021 21 191 M 3 296 M 3 296 M
P/E ratio 2021 8,06x
Yield 2021 6,19%
Capitalization 171 B 26 767 M 26 639 M
EV / Sales 2021 0,59x
EV / Sales 2022 0,55x
Nbr of Employees 47 710
Free-Float 30,3%
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Technical analysis trends BAOSHAN IRON & STEEL CO., LTD.
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TrendsBearishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 23
Average target price 10,85 CNY
Last Close Price 7,69 CNY
Spread / Highest target 76,6%
Spread / Average Target 41,1%
Spread / Lowest Target -7,67%
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Managers and Directors
NameTitle
Ji Xin Zou Chairman
Yong Hong Zhu Chairman-Supervisory Board
Tian Yong Independent Director
Xiong Wen Lu Independent Non-Executive Director
Han Sheng Yu Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BAOSHAN IRON & STEEL CO., LTD.29.24%26 767
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EVRAZ PLC32.44%12 849
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