TOKYO STEEL MANUFACTURING CO., LTD.

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Delayed Japan Exchange  -  05/24 12:49:22 am EDT
1436.00 JPY   +1.41%
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Tokyo Steel holds product prices unchanged in Feb for third month

01/17/2022 | 02:35am EDT

TOKYO, Jan 17 (Reuters) - Tokyo Steel Manufacturing Co Ltd , Japan's top electric-arc furnace steelmaker, said on Monday it will hold steel product prices unchanged in February as steel markets at home and abroad were balanced.

This is the third month the company keeps prices steady for all of its steel products, including its main H-shaped beams.

For February, prices for steel bars, including rebar, will remain at 89,000 yen ($777) a tonne while H-shaped beams will also stay at 111,000 yen a tonne.

Demand in overseas markets has been hit by supply chain bottlenecks and chip shortages amid a resurgence in global COVID-19 cases, Tokyo Steel said in a statement, while global supply has been curbed by lower Chinese output and exports.

Domestic demand for steel products is expected to rise due to large construction projects, manufacturers' growing appetite for capital spending and high orders from shipbuilders, but demand for steel sheets has been restrained by slow auto production, it said.

"It is inevitable that steel production costs will rise further in the spring and beyond and it will be essential to pass on the higher costs to product prices, but we'll keep our prices steady for now to reflect the current market condition," it said.

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) . ($1 = 114.4800 yen) (Reporting by Yuka Obayashi; Editing by Ana Nicolaci da Costa)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 1.73% 6.48 End-of-day quote.-9.50%
HYUNDAI CORPORATION -1.06% 18600 End-of-day quote.10.71%
HYUNDAI CORPORATION HOLDINGS CO., LTD. -3.53% 12300 End-of-day quote.3.36%
HYUNDAI MOTOR COMPANY 0.80% 188000 End-of-day quote.-10.05%
HYUNDAI STEEL COMPANY 0.50% 40350 End-of-day quote.-1.59%
ON SEMICONDUCTOR CORPORATION -1.01% 55.89 Delayed Quote.-17.71%
POSCO HOLDINGS INC. 0.34% 292500 End-of-day quote.6.56%
TOKYO STEEL MANUFACTURING CO., LTD. 1.41% 1436 Delayed Quote.1.02%
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Financials
Sales 2022 271 B 2 120 M 2 120 M
Net income 2022 27 782 M 217 M 217 M
Net cash 2022 64 629 M 506 M 506 M
P/E ratio 2022 5,98x
Yield 2022 1,82%
Capitalization 163 B 1 277 M 1 277 M
EV / Sales 2022 0,36x
EV / Sales 2023 0,31x
Nbr of Employees 1 020
Free-Float 41,0%
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Last Close Price 1 416,00
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Managers and Directors
Toshikazu Nishimoto Deputy Manager-Okayama Plant Steelmaking
Tatsuhiko Matsumura Auditor
Mika Nomoto Auditor
Kiyoshi Imamura Director & Head-Osaka Branch
Toshio Adachi Manager-Utsunomiya Plant
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