Analyst Research Report Snapshot

Title:

China Steel Corp. (2002 TT); Less-Than-Expected Demand & Weaker Price

Price:

$46.00

Provider:

MasterLink Securities Corporation

Date:

09 Jun 2014

Pages:

5

Type:

AcrobatPDF

Companies referenced:

2002.TW

Available for Immediate Download
Summary:

Steel prices for May14 in Europe and the U.S. exhibited limited uptick after the prices rebounded in Apr14, which led to flattish export prices of downstream steel makers including Yieh Phui (2023 TT) and Sheng Yu Steel (2029 TT). Given (1) limited upside for downstream steel prices, (2) iron ore price decline to US$100/ton and (3) Baosteel’s cut in steel prices for Jun14, CSC followed suit by announcing flattish and lower steel prices. Coupled with less-than-expected demand in the steel market and coming of weak season, we downgrade CSC to HOLD with a TP of NT$28 (FY14 EPS is forecast at NT$1.1).

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.