Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Hesteel Co Ltd    000709   CNE000000H20

HESTEEL CO LTD (000709)
Mes dernières consult.
Most popular
  Report  
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Hesteel : EU sets import duties on Chinese corrosion-resistant steel

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/08/2018 | 12:54pm CET
Workers wearing protective masks weld steel bars at a construction site in Huai'an

BRUSSELS (Reuters) - The European Union has set import duties on Chinese corrosion-resistant steel to counter what it says are unfairly low prices, the latest in a series of measures against Chinese products and steel in particular.

The duties will range from 17.2 to 27.9 percent, very similar to the tariffs already set on a provisional basis in August, the EU official journal said on Thursday.

The duties on the product, used in construction, for mechanical engineering, in welded pipes and tubes and domestic appliances, will apply for five years.

The provisional rates were from 17.2 to 28.5 percent.

The European Commission, which is responsible for trade policy in the European Union, opened an investigation in December 2016 following a complaint from EU steelmakers' association Eurofer.

The EU now has 53 sets of measures in place on steel and iron products, 27 of them on products coming from China.

China's Commerce Ministry said it was very dissatisfied with the imposition of duties and that they were inflated. The solution to sector issues, such as overcapacity, was joint action of all countries, not unilateral measures, it said.

China's share of the EU market in corrosion resistant steel rose from 10 percent in 2013 to around 20 percent in 2016 and Chinese prices fell by more than the decline in raw material costs, the EU journal said. The value of the EU market is around 4.6 billion euros ($5.6 billion) a year.

Companies of China's HBIS group, including Hesteel Co Ltd, will face duties of 27.8 percent, steelmakers of the Shagan Group [JSSGG.UL] duties of 27.9 percent and those of the Shougang Group [SGANG.UL] 17.2 percent.

EU producers are concentrated in Belgium, France, the Netherlands and Poland.

(Reporting by Philip Blenkinsop, additional reporting by Josephine Mason in Beijing; Editing by Robert-Jan Bartunek and Susan Fenton)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HESTEEL CO LTD
02/08HESTEEL : EU sets import duties on Chinese corrosion-resistant steel
RE
2017EU imposes import duties on some Chinese steel to counter subsidies
RE
2017HESTEEL : Sub-molten Salt Vanadium Extracting Line Starts Run in China
AQ
2017In reversal of fortune, China's low-value steelmakers beat high-end peers
RE
2017HESTEEL : EU sets steel import duties to counter Chinese subsidies
RE
2017HESTEEL : Q1 Net Soared 455.69%
AQ
2017China steel shares mostly up after Trump launches probe
RE
2017EU raises import duties on Chinese steel, angering Beijing
RE
2017HESTEEL : Xuansteel OKed to Relocate in Leting
AQ
2017HESTEEL : China 2016 Crude Steel Output Hit 808mn Tons
AQ
More news
Financials ( CNY)
Sales 2017 105 B
EBIT 2017 7 051 M
Net income 2017 2 735 M
Debt 2017 46 463 M
Yield 2017 1,96%
P/E ratio 2017 14,81
P/E ratio 2018 12,81
EV / Sales 2017 0,83x
EV / Sales 2018 0,81x
Capitalization 40 775 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 5,05  CNY
Spread / Average Target 32%
EPS Revisions
Managers
NameTitle
Gui Yang Li General Manager & Director
Yong Yu Chairman
Wei Jun Dong Chairman-Supervisory Board
Guang Shen Chang Chief Financial & Accounting Officer
Zhi Qiang Liu Member-Supervisory Board & Auditing Manager
Sector and Competitors
1st jan.Capitalization (M$)
HESTEEL CO LTD6 428
ARCELORMITTAL4.08%35 898
POSCO--.--%29 854
NIPPON STEEL & SUMITOMO METAL CORP-12.71%22 778
NUCOR2.53%20 725
FOSUN INTERNATIONAL LIMITED-2.42%18 632