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    2002   TW0002002003

CHINA STEEL CORPORATION

(2002)
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China steel : futures set for weekly gain on higher demand

04/29/2021 | 11:04pm EDT

BEIJING, April 30 (Reuters) - Chinese steel futures traded in a tight range on Friday, but were on course for a more than 2% weekly gain as demand for major steel products continued to improve.

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

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

The most-active steel rebar on the Shanghai Futures Exchange , for October delivery, inched up 0.1% to 5,417 yuan ($837.73) per tonne as of 0247 GMT.

Hot-rolled coil futures, used in cars and home appliances, dipped 0.3% to 5,729 yuan a tonne.

The June contract of Shanghai stainless steel futures rose 0.2% to 14,510 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 stabilizing 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, fell 1.3% to 1,116 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 1.5% to 1,780 yuan a tonne and coke declined 1.8% to 2,644 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.

($1 = 6.4663 Chinese yuan) (Reporting by Min Zhang and Shivani Singh)


© Reuters 2021
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Financials
Sales 2021 436 B 15 580 M 15 580 M
Net income 2021 47 821 M 1 710 M 1 710 M
Net Debt 2021 138 B 4 922 M 4 922 M
P/E ratio 2021 12,2x
Yield 2021 5,94%
Capitalization 537 B 19 200 M 19 207 M
EV / Sales 2021 1,55x
EV / Sales 2022 1,61x
Nbr of Employees 28 490
Free-Float 70,9%
Chart CHINA STEEL CORPORATION
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Technical analysis trends CHINA STEEL CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 39,46 TWD
Last Close Price 34,85 TWD
Spread / Highest target 57,8%
Spread / Average Target 13,2%
Spread / Lowest Target -22,5%
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
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