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    5423   JP3579800008

TOKYO STEEL MANUFACTURING CO.,LTD.

(5423)
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Tokyo Steel to hike some prices in August on robust demand

07/13/2021 | 02:48am EDT

TOKYO, July 13 (Reuters) - Tokyo Steel Manufacturing Co Ltd will raise prices in August by up to 4.7% for some of its steel products to reflect a tight market situation, Japan's top electric-arc furnace steelmaker said on Tuesday.

The company hiked prices for its heavy plates by 4.9% this month, but left other prices unchanged to ensure the market absorbed a hike last month.

"Overseas steel markets have been strong, especially in the United States and Europe, and the prices are expected to remain solid, due to robust demand and higher prices of raw materials," the company said in a statement.

For August, the prices of six products, including the firm's main H-shaped beams will be boosted by 3,000 yen ($27) a tonne, or a rise of between 2.6% and 3.6%, while prices for heavy plates will be raised by 5,000 yen a tonne, or 4.7%.

Prices for H-shaped beams will rise to 106,000 yen ($960) a tonne from 103,000 yen while those of steel bars, including rebar, will go up to 86,000 yen a tonne from 83,000 yen.

The domestic market is also seen getting tighter because of a series of redevelopment projects around the capital, Tokyo, along with plans to build new logistics facilities, it added.

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=110.4000 yen) (Reporting by Yuka Obayashi; Editing by Clarence Fernandez)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 0.10% 10.46 End-of-day quote.75.80%
HYUNDAI STEEL COMPANY -0.19% 51500 End-of-day quote.30.05%
POSCO -0.55% 362500 End-of-day quote.33.27%
TOKYO STEEL MANUFACTURING CO.,LTD. -2.49% 1173 End-of-day quote.75.60%
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Financials
Sales 2022 253 B 2 302 M 2 302 M
Net income 2022 21 984 M 200 M 200 M
Net cash 2022 66 869 M 609 M 609 M
P/E ratio 2022 6,28x
Yield 2022 1,62%
Capitalization 140 B 1 274 M 1 272 M
EV / Sales 2022 0,29x
EV / Sales 2023 0,26x
Nbr of Employees 1 020
Free-Float 42,1%
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Tokyo Steel Manufacturing Co.,Ltd. Technical Analysis Chart | 5423 | JP3579800008 | MarketScreener
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Number of Analysts 0
Last Close Price 1 173,00 
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Managers and Directors
Toshikazu Nishimoto President & Representative Director
Tatsuhiko Matsumura Independent Outside Director
Mika Nomoto Independent Outside Director
Kiyoshi Imamura Managing Director & General Manager-Sales
Toshio Adachi Director