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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Henan Mingtai Al.Industrial Co., Ltd.    601677   CNE100001765

HENAN MINGTAI AL.INDUSTRIAL CO., LTD.

(601677)
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End-of-day quote. End-of-day quote Shanghai Stock Exchange - 01/15
15.67 CNY   -2.00%
2020China stocks rise on report of stimulus plan; Hong Kong down
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2018U.S. Commerce Dept finds aluminium sheet imports from China subsidized
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U.S. Commerce Dept finds aluminium sheet imports from China subsidized

04/17/2018 | 10:57pm EST
An employee looks at an aluminium foil roll being lifted at a plant in Binzhou

WASHINGTON (Reuters) - The U.S. Commerce Department said on Tuesday it has made a preliminary determination that common alloy aluminium sheet imports from China are being subsidized, and set countervailing duties of up to 113 percent.

Imports of common alloy aluminium sheet from China were valued at an estimated $600 million in 2016, the department said in a statement.

A final determination in the countervailing duty investigation is scheduled to be announced on Aug. 30, it said.

The Aluminum Association, a U.S. trade group, welcomed the decision. "This is an important first step to begin restoring a level playing field for U.S. aluminium sheet production," the group's president, Heidi Brock, said in a statement.

The department's preliminary finding comes as President Donald Trump has threatened to slap tariffs on some $150 billion of Chinese goods to try to force changes in China's industrial policies.

The Commerce Department launched the investigation of imports of Chinese aluminium alloy sheet in November, the first U.S.-initiated anti-subsidy and anti-dumping probes in decades.

Washington's seldom-used tactic is aimed at accelerating the imposition of duties against what are determined to be unfairly subsidized and dumped products. U.S. companies and industries claiming injury from imports would normally first ask the Commerce Department to open such probes, but government-initiated cases skip that step.

The department said it calculated a preliminary subsidy rate of 31.20 percent for Yong Jie New Material Co Ltd; a rate of 34.99 percent for Henan Mingtai Industrial Co Ltd and Zhengzhou Mingtai Industry Co; and a rate of 113.30 percent for Chalco Ruimin Co Ltd and Chalco-SWA Cold Rolling Co Ltd.

The preliminary subsidy rate for all-other Chinese producers and exporters is 33.10 percent, the department said.

(Reporting by Eric Beech and David Lawder; Editing by Mohammad Zargham and Sandra Maler)


© Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
HENAN MINGTAI AL.INDUSTRIAL CO., LTD. -2.00% 15.67 End-of-day quote.10.82%
JUST GROUP PLC -3.16% 79.65 Delayed Quote.14.45%
STEP CO.,LTD. -3.53% 1501 End-of-day quote.-6.01%
WILL GROUP, INC. -0.81% 976 End-of-day quote.-2.98%
All news about HENAN MINGTAI AL.INDUSTRIAL CO., LTD.
2020China stocks rise on report of stimulus plan; Hong Kong down
RE
2018U.S. Commerce Dept finds aluminium sheet imports from China subsidized
RE
More news
Financials
Sales 2020 15 449 M 2 384 M 2 384 M
Net income 2020 911 M 141 M 141 M
Net Debt 2020 - - -
P/E ratio 2020 10,6x
Yield 2020 1,69%
Capitalization 9 657 M 1 490 M 1 490 M
Capi. / Sales 2020 0,63x
Capi. / Sales 2021 0,55x
Nbr of Employees 4 531
Free-Float 64,6%
Chart HENAN MINGTAI AL.INDUSTRIAL CO., LTD.
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Henan Mingtai Al.Industrial Co., Ltd. Technical Analysis Chart | 601677 | CNE100001765 | MarketScreener
Technical analysis trends HENAN MINGTAI AL.INDUSTRIAL CO., LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 2
Average target price
Last Close Price 15,67 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Jie Liu General Manager & Director
Ting Yi Ma Chairman
Hui Peng Sun Chairman-Supervisory Board
Jun Xun Sun Chief Financial Officer & Deputy General Manager
You Dong Du Vice Chairman