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    A004020   KR7004020004

HYUNDAI STEEL COMPANY

(A004020)
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Tokyo Steel to raise product prices for June by up to 18%

05/17/2021 | 04:40am EDT

TOKYO (Reuters) - Tokyo Steel Manufacturing Co Ltd said on Monday it is raising prices in June for all of its steel products by between 9.5% to 17.6%, reflecting surging overseas prices and an expected pick-up in local demand.

The June price increases by Japan's top electric-arc furnace steelmaker, which makes steel products mainly for use in construction, come after it increased prices of some products in the past two months.

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).

Overseas prices of steel products have rallied amid tight supply and robust demand from China, with the most-traded contracts for construction-grade steel rebar and wire rod on the Shanghai Futures Exchange having surged close to 40% this year.

Prices at home, meanwhile, have underperformed overseas markets, but demand for construction steel is expected to recover and higher prices of raw materials will likely force steelmakers to boost product prices, Tokyo Steel said in a statement.

For June, prices for pickled and oiled coils will be increased by 17.6% to 120,000 yen ($1,097) per tonne, while prices of U-shaped steel sheet piles will be raised by 9.5% to 115,000 yen a tonne, Tokyo Steel said.

Prices of its main H-shaped beams will be boosted by 10.8% to 103,000 yen a tonne.

($1 = 109.2300 yen)

(Reporting by Yuka Obayashi; Editing by Muralikumar Anantharaman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. -7.83% 7.3 End-of-day quote.22.69%
HYUNDAI CORPORATION -0.77% 19450 End-of-day quote.21.94%
HYUNDAI MOTOR COMPANY 0.92% 220000 End-of-day quote.14.58%
HYUNDAI STEEL COMPANY -1.11% 53400 End-of-day quote.34.85%
POSCO -1.77% 360000 End-of-day quote.32.35%
TOKYO STEEL MANUFACTURING CO.,LTD. 8.32% 1185 End-of-day quote.77.40%
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Financials
Sales 2021 22 406 B 19,5 B 19,5 B
Net income 2021 1 203 B 1,05 B 1,05 B
Net Debt 2021 10 954 B 9,52 B 9,52 B
P/E ratio 2021 5,94x
Yield 2021 1,45%
Capitalization 7 025 B 6 106 M 6 104 M
EV / Sales 2021 0,80x
EV / Sales 2022 0,73x
Nbr of Employees 10 906
Free-Float 62,6%
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Mean consensus BUY
Number of Analysts 25
Last Close Price 53 400,00 KRW
Average target price 70 400,00 KRW
Spread / Average Target 31,8%
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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 COMPANY34.85%6 166
ARCELORMITTAL55.59%32 595
NUCOR CORPORATION95.56%30 550
POSCO32.35%24 061
TATA STEEL LIMITED119.09%23 193
NIPPON STEEL CORPORATION50.34%15 872