Nippon Steel's US Plant: A Trillion Yen Bet

Japans Nippon Steel plans to build a new US plant, aiming for three million tons of steel annually. This $14.1 billion investment, following the acquisition of United States Steel, targets a one trillion yen profit. The plant, similar to Arkansas Big River facility, will use electric arc furnaces, requiring a stable, competitively priced power supply. Factors like tax incentives and raw material handling will influence the location choice, with the US, India, and Thailand as key markets. This expansion addresses Japans domestic market challenges from declining demand and low-cost Chinese products.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.