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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Hbis Company Limited    000709   CNE000000H20

HBIS COMPANY LIMITED

(000709)
  Report
End-of-day quote. End-of-day quote SHENZHEN STOCK EXCHANGE - 12/04
2.26 CNY   -0.44%
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SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

EU suspects Chinese steelmakers are dodging anti-dumping duties

11/26/2019 | 09:15am EST
A European flag is seen outside the EU Commission headquarters in Brussels

The European Commission opened an investigation on Tuesday after finding evidence that Chinese steel producers are avoiding anti-dumping duties by slightly modifying the material they export.

The European Union set duties in February 2018 of between 17.2% and 27.9% for imports of certain corrosion-resistant steels from China to counter what it said were unfairly low prices. (reut.rs/37G8pRa)

However, the Commission said on Tuesday it was now looking into whether Chinese producers had found a way to avoid them.

The EU often carries out investigations into cases of suspected circumvention. In some cases, products from countries such as China are shipped to another nearby country and then exported as if the product has been made there.

In the case opened on Tuesday, the Commission said that Chinese producers had increased exports of corrosion-resistant steel with thin oil coatings or with slightly increased carbon, aluminium or titanium content. The resulting product was slightly different, and so not subject to duties.

It said there was no economic justification for the slight product alteration other than the duties imposed in 2018. It added that significant volumes of such steel were coming into the EU at excessively low prices.

In its original investigation, the Commission had found that EU demand for the specific steel rose 25% to 9.3 million tonnes between 2013 and the 12-month period to Sept. 30, 2016.

In the same period, the price of imports from China fell much more sharply than the wider market, and their volume almost doubled, which increased their market share from 10% to 20%.

The value of the EU market was around 4.6 billion euros ($5.1 billion) a year at the time.

The duties apply to companies belonging to China's HBIS group, including Hesteel Co Ltd, and those of the Shagan and Shougang groups.

(Reporting by Philip Blenkinsop; Editing by Kevin Liffey)

Stocks treated in this article : London Brent Oil, LME Aluminium Cash, WTI, Share Plc, Hesteel Co Ltd

© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -3.18% 16.73 Delayed Quote.214.18%
HBIS COMPANY LIMITED -0.44% 2.26 End-of-day quote.-12.40%
JUST GROUP PLC -0.78% 57.45 Delayed Quote.-26.71%
LONDON BRENT OIL 0.51% 49.04 Delayed Quote.-27.36%
NEXT PLC -0.12% 6776 Delayed Quote.-3.33%
SHARE PLC 0.00%End-of-day quote.-13.45%
WILL GROUP, INC. 0.40% 998 End-of-day quote.-20.29%
WTI 0.97% 46.11 Delayed Quote.-26.86%
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Financials
Sales 2020 112 B 17 111 M 17 111 M
Net income 2020 1 591 M 244 M 244 M
Net Debt 2020 - - -
P/E ratio 2020 15,1x
Yield 2020 4,42%
Capitalization 23 362 M 3 577 M 3 578 M
Capi. / Sales 2020 0,21x
Capi. / Sales 2021 0,20x
Nbr of Employees 34 439
Free-Float 37,1%
Chart HBIS COMPANY LIMITED
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Hbis Company Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends HBIS COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 2,60 CNY
Last Close Price 2,26 CNY
Spread / Highest target 15,0%
Spread / Average Target 15,0%
Spread / Lowest Target 15,0%
EPS Revisions
Managers
NameTitle
Wei Jun Dong Chairman-Supervisory Board
Jian Liu Chairman
Guang Shen Chang CFO, Director & Chief Accountant
Yu Zhu Zhang Independent Director
Jian Zhong Zhang Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
HBIS COMPANY LIMITED-12.40%3 587
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