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    2002   TW0002002003

CHINA STEEL CORPORATION

(2002)
  Report
End-of-day quote. End-of-day quote Taiwan Stock Exchange - 05/07
41.2 TWD   +0.49%
04/30CHINA STEEL  : futures log weekly gains as demand improves
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04/29CHINA STEEL  : futures set for weekly gain on higher demand
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04/29CHINA STEEL  : futures set for weekly gain on higher demand
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China steel : futures log weekly gains as demand improves

04/30/2021 | 03:27am EDT

BEIJING, April 30 (Reuters) - Chinese steel rebar and hot-rolled coils futures delivered weekly gains as consumption and demand for the industrial products improved, despite a slight easing on the day as investors locked in profits after a recent rally.

Inventories of five main steel products, including construction used rebar and wire rods, as well as manufacturing materials coils and plates, fell 5% on-week, data from Mysteel consultancy showed.

The drop came even as apparent consumption for steel products increased 5.3% this week, according to Mysteel.

The most-active steel rebar on the Shanghai Futures Exchange , for October delivery, dipped 0.4% to 5,391 yuan ($833.19) a tonne at close on Friday. The contract rose 1.7% this week.

Hot-rolled coil futures, used in cars and home appliances, ended down 1% at 5,688 yuan per tonne. They logged a 1.8% increase for the week.

The June contract of Shanghai stainless steel futures inched up 0.1% to 14,495 yuan a tonne.

"Fundamentals remain supportive for most metals in the very near term... we see steel and iron ore heading higher for now, before stabilising later on in the year," analysts with Fitch Solutions wrote in a note.

FUNDAMENTALS

* Benchmark iron ore futures on the Dalian Commodity Exchange, for September delivery, plunged 3.7% to 1,089 yuan a tonne.

* Spot prices of 62% iron ore remained unchanged at $193.5 a tonne on Thursday from the previous session, data compiled by SteelHome consultancy showed. <SH-CCN-IRNOR62>

* Dalian coking coal jumped 1.1% to 1,773 yuan a tonne and coke declined 3.2% to 2,607 yuan.

* China's factory activity in April expanded at the fastest pace in four months on stronger demand, but concerns over surging raw materials and input costs clouded the outlook, according to a private survey released on Friday.

* Chinese financial markets will be closed during May 1-5 for the Labour Day holiday. Markets will resume trade on May 6.

($1 = 6.4703 Chinese yuan) (Reporting by Min Zhang and Shivani Singh, Editing by Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA STEEL CORPORATION 0.49% 41.2 End-of-day quote.66.46%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.4158 Delayed Quote.-1.22%
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Financials
Sales 2021 426 B 15 319 M 15 319 M
Net income 2021 47 821 M 1 720 M 1 720 M
Net Debt 2021 174 B 6 258 M 6 258 M
P/E ratio 2021 18,1x
Yield 2021 2,43%
Capitalization 635 B 22 839 M 22 841 M
EV / Sales 2021 1,90x
EV / Sales 2022 1,97x
Nbr of Employees 28 490
Free-Float 70,9%
Chart CHINA STEEL CORPORATION
Duration : Period :
China Steel Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA STEEL CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 36,58 TWD
Last Close Price 41,20 TWD
Spread / Highest target 33,5%
Spread / Average Target -11,2%
Spread / Lowest Target -54,9%
EPS Revisions
Managers and Directors
NameTitle
Hsi Chin Wang General Manager & Director
Shih Hsin Chen Head-Finance & General Manager-Finance
Chao Tung Weng Chairman
Yi Xing Huang Vice President-Technology
Chiu Po Chang Vice President-Administration
Sector and Competitors
1st jan.Capitalization (M$)
CHINA STEEL CORPORATION66.46%22 839
BAOSHAN IRON & STEEL CO., LTD.51.76%31 259
JSW STEEL LIMITED95.48%24 828
CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD.18.77%20 304
EVRAZ PLC46.14%14 045
BLUESCOPE STEEL LIMITED29.63%8 959