【出版时间及名称】：2010年2月亚洲钢铁行业研究报告
        【作者】：汇丰银行
        【文件格式】：PDF
        【页数】：116
        【目录或简介】：
Investment summary 3
Valuation 6
HSBC Asia Steel valuation table 8
HSBC Asia Steel valuation table 9
China – Slowing growth from a
high base 12
China – key charts 18
Around the region 20
Asia 20
Japan 22
South Korea – self-sufficient 24
India – import dependent 26
Taiwan – strong rebound 28
Other Asia – a key consumer 30
HSBC Asia steel model 31
Company summaries 33
POSCO – Best in class 34
Nippon Steel – Weak at home 38
JFE Holdings – Export dependent 42
Baosteel – Leader has it all 46
SAIL – Steady performer, but priced in 50
China Steel Corp – Recovery priced in 54
Angang – Valuation gap closes 58
Tata Steel – Domestic help 62
Maanshan – Still a China stimulus play 67
BlueScope – Back to full capacity 71
JSW Steel – Input costs a dampener? 75
Company statistics 79
Global steel model, prices and
margins 83
Regional steel statistics 89
Disclosure appendix 112
Disclaimer 115