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  >  KOREA EXCHANGE  >  Hyundai Steel Co    004020   KR7004020004

HYUNDAI STEEL CO (004020)
Mes dernières consult.
Most popular
  Report  
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

South Korea needs to consider a complaint to WTO over U.S. protectionism: steel industry source

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/21/2017 | 05:48am CEST

SEOUL (Reuters) - South Korea's government and steel industry should consider all measures including filing a complaint with the World Trade Organization (WTO) in response to "deepening U.S. trade protectionism", an industry source told Reuters on Friday.

The source's comments came after U.S. President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs.

A senior official at South Korea's trade ministry said the government is considering its response to the U.S. move.

"We are open to all possible options including filing a complaint with WTO but nothing has been decided. We will decide after listening to opinions of the Korean steel industry," the official said.

The official and the industry source asked not to be identified because of the sensitivity of the matter.

POSCO (>> POSCO) shares were up 2.3 percent and Hyundai Steel (>> Hyundai Steel Co) stocks were up 0.8 percent in the wider market that climbed 0.9 percent as of 0341 GMT (11:41 p.m. ET).

Only about 5 percent of South Korea's steel production goes to the United States, according to Choi Moon-sun, a steel analyst at Korea Investment & Securities in Seoul.

Still, South Korean steelmakers, including top-ranked POSCO are bracing for rising tariffs in the United States.

On March 30, the U.S. Department of Commerce made a finding that several countries including South Korea dumped carbon and alloy steel cut-to-length plate in the U.S. market, allowing it to impose duties ranging from 3.62 percent to 148 percent.

In addition, there was a final finding that South Korean imports were subsidized, leading to a countervailing duty of 4.31 percent being slapped on those products.

In September last year, the U.S. International Trade Commission said it would keep in place most of the recent anti-dumping and anti-subsidy duties that have targeted hot-rolled flat steel imports from Australia, Brazil, Britain, Japan, the Netherlands, South Korea and Turkey.

(Reporting by Hyunjoo Jin and Jane Chung; Editing by Tom Hogue)

By Hyunjoo Jin and Jane Chung

Stocks treated in this article : Hyundai Steel Co, POSCO
Stocks mentioned in the article
ChangeLast1st jan.
POSCO --End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HYUNDAI STEEL CO
04/06Effects of steel, aluminum tariffs on local industry difficult to predict
AQ
04/05HYUNDAI STEEL : issues final acceptance certificates for two long-rolling mills ..
AQ
04/04Elliott boosts hopes for change at South Korean auto giant Hyundai
RE
04/04Elliott boosts hopes for change at South Korean auto giant Hyundai
RE
04/04Elliott boosts hopes for change at South Korean auto giant Hyundai
RE
03/30Hyundai Mobis, Glovis shares fall on group restructuring worries
RE
03/29Concerns over Hyundai Motor Group overhaul rattle Mobis investors
RE
03/29Concerns over Hyundai Motor Group overhaul rattle Mobis investors
RE
03/28Hyundai group to streamline ownership structure in reform push
RE
03/28Hyundai group to streamline ownership structure in reform push
RE
More news
News from SeekingAlpha
2015Harsco's (HSC) CEO Nicholas Grasberger on Q4 2014 Results - Earnings Call Tra.. 
2015Harsco (HSC) Q4 2014 Results - Earnings Call Webcast 
2015Harsco misses by $0.06, misses on revenue 
2015Notable earnings before Thursday?s open 
2015Harsco declares $0.20 dividend 
Financials ( KRW)
Sales 2018 20 203 B
EBIT 2018 1 409 B
Net income 2018 827 B
Debt 2018 10 171 B
Yield 2018 1,37%
P/E ratio 2018 9,09
P/E ratio 2019 8,17
EV / Sales 2018 0,88x
EV / Sales 2019 0,83x
Capitalization 7 646 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 69 500  KRW
Spread / Average Target 22%
EPS Revisions
Managers
NameTitle
Hak-Seo Kang President, Co-Chief Executive Officer & Director
Yoo-Cheol Woo Vice Chairman & Co-Chief Executive Officer
Choong-Shik Song Director, Vice President & Head-Finance
Gye-Young Lee Vice President, Head-Research & Development
Min-Su Seo Managing Director & Head-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
HYUNDAI STEEL CO6 928
ARCELORMITTAL3.28%33 217
POSCO--.--%28 832
NUCOR5.14%21 265
NIPPON STEEL & SUMITOMO METAL CORP-25.70%19 535
FOSUN INTERNATIONAL LIMITED-8.17%18 075