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HYUNDAI STEEL COMPANY

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Tokyo Steel product prices unchanged in January for second month

12/20/2021 | 04:52am EDT
Workers stand next to steel pipes at a construction site in Tokyo

TOKYO (Reuters) - Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker, on Monday said it will hold steel product prices steady in January to ensure an increase implemented in November would be absorbed by the market.

This is the second month the company has kept prices unchanged for all of its steel products, including its main H-shaped beams.

For January, prices for steel bars, including rebar, will remain at 89,000 yen ($785) a tonne while H-shaped beams will stay at 111,000 yen a tonne.

Domestic demand is strong, helped by a series of public works and construction projects by private companies as well as improving demand for shipbuilding, but some projects have been delayed because of shortages of labour and materials while slow output in automobile production caused a build in inventories of some sheet products, the company said in a statement.

Tokyo Steel's pricing is closely watched by Asian rivals such as China's Baoshan Iron & Steel Co Ltd (Baosteel) and South Korea's Posco and Hyundai Steel.

($1 = 113.4000 yen)

(Reporting by Yuka Obayashi; Editing by David Goodman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 0.47% 6.37 End-of-day quote.-11.03%
HYUNDAI CORPORATION 0.53% 18800 End-of-day quote.11.90%
HYUNDAI CORPORATION HOLDINGS CO., LTD. -0.78% 12750 End-of-day quote.7.14%
HYUNDAI MOTOR COMPANY 2.47% 186500 End-of-day quote.-10.77%
HYUNDAI STEEL COMPANY 1.77% 40150 End-of-day quote.-2.07%
POSCO HOLDINGS INC. 2.28% 291500 End-of-day quote.6.19%
TOKYO STEEL MANUFACTURING CO., LTD. 5.38% 1391 Delayed Quote.1.02%
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Financials
Sales 2022 26 500 B 20,8 B 20,8 B
Net income 2022 1 572 B 1,23 B 1,23 B
Net Debt 2022 9 428 B 7,40 B 7,40 B
P/E ratio 2022 3,38x
Yield 2022 2,36%
Capitalization 5 282 B 4 148 M 4 148 M
EV / Sales 2022 0,56x
EV / Sales 2023 0,51x
Nbr of Employees 10 892
Free-Float 62,6%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 40 150,00 KRW
Average target price 58 333,33 KRW
Spread / Average Target 45,3%
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Managers and Directors
Tong-Il An President, Chief Executive Officer & Director
Ju-Tae Choi Managing Director & Head-Process Technology
Cheon-Geun Jang Managing Director, Head-Legal & Compliance Support
Sang-Yong Kim Independent Director
Kyung-Tae Hong Independent Director
Sector and Competitors
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HYUNDAI STEEL COMPANY-2.07%4 148
NUCOR5.10%31 919
ARCELORMITTAL-2.65%25 372
TATA STEEL LIMITED5.28%18 372
POSCO HOLDINGS INC.6.19%17 313
NIPPON STEEL CORPORATION14.75%15 524