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    A004020   KR7004020004

HYUNDAI STEEL COMPANY

(A004020)
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Tokyo Steel to hike heavy plates' prices by 4.9% in July

06/16/2021 | 02:46am EDT

TOKYO (Reuters) - Tokyo Steel Manufacturing Co Ltd said it will raise prices for its heavy plates next month by 4.9%, while keeping them unchanged for other products to ensure a hike implemented this month is absorbed by the market.

For this month, Japan's top electric-arc furnace lifted prices for all of its steel products by up to 17.6%, reflecting a surge in overseas prices and a pick-up in local demand.

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).

Prices for heavy plates, used in ships and construction machinery, will be increased by 5,000 yen ($45) to 107,000 yen per tonne for July as the market gets tighter.

Prices of the main H-shaped beams will stay at 103,000 yen a tonne, the company said on Tuesday.

Overseas prices of steel products are expected to remain high, while local prices will likely catch up with overseas markets due to recovering demand and low inventories, Tokyo Steel said.

($1 = 110.0800 yen)

(Reporting by Yuka Obayashi; Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. -0.41% 7.35 End-of-day quote.23.53%
HYUNDAI STEEL COMPANY -0.58% 51400 End-of-day quote.29.80%
POSCO -0.72% 344000 End-of-day quote.26.47%
TOKYO STEEL MANUFACTURING CO.,LTD. 1.20% 1184 End-of-day quote.77.25%
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Financials
Sales 2021 22 406 B 19,6 B 19,6 B
Net income 2021 1 203 B 1,05 B 1,05 B
Net Debt 2021 10 954 B 9,60 B 9,60 B
P/E ratio 2021 5,69x
Yield 2021 1,50%
Capitalization 6 761 B 5 921 M 5 923 M
EV / Sales 2021 0,79x
EV / Sales 2022 0,72x
Nbr of Employees 10 906
Free-Float 62,6%
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Technical analysis trends HYUNDAI STEEL COMPANY
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Mean consensus BUY
Number of Analysts 25
Last Close Price 51 400,00 KRW
Average target price 70 400,00 KRW
Spread / Average Target 37,0%
EPS Revisions
Managers and Directors
Tong-Il An President, Chief Executive Officer & Director
Kang-Hyun Seo Director & Head-Finance
Gye-Young Lee Vice President, Head-Research & Development
Ju-Tae Choi Managing Director & Head-Process Technology
Cheon-Geun Jang Managing Director, Head-Legal & Compliance Support
Sector and Competitors
1st jan.Capi. (M$)
HYUNDAI STEEL COMPANY29.80%5 921
ARCELORMITTAL54.74%35 149
NUCOR CORPORATION90.84%30 809
TATA STEEL LIMITED124.75%22 951
POSCO26.47%22 897
NIPPON STEEL CORPORATION58.55%17 111