Japan

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Tokyo Steel and Stemcor launch enso green steel brand

This will contribute to maintaining and expanding the presence on the European market

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Japanese bank to provide a loan to Vale to secure iron ore supplies to the country

The loan is co-financed together with private financial institutions

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Asian steelmakers are considering investments in the US

The reasons are tariff barriers and a potential cross-border carbon tax

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Japan’s Nippon Steel to acquire U.S. Steel for $14.9 billion

The deal was unanimously approved by the NSC Board of Directors and the U.S. Steel

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Japanese steelmakers point to problematic issues regarding CBAM

One of the caveats is the large volume of data required by the European reporting system

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Japan’s JFE Steel plans to build a large-scale electric arc furnace in 2027

The EAF will replace the blast furnace at the company's Kurasiki plant

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Kobe Steel managed to reduce carbon emissions by 25% in a large blast furnace

The company successfully tested the technology at the Kakogawa plant

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Japan’s JFE Steel stopped blast furnace production at the Keihin steel plant

This is due to the reduction of domestic demand and the growth of competition from China

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Japan’s industry groups criticize CBAM reporting

Industrialists are concerned that this could lead to the disclosure of confidential information

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Japan’s steelmakers have comments on European CBAM

The mechanism requires data from importers that is not requested from European steel producers

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Japan bans steel exports to the Russian Federation

The ban will come into effect on April 7, 2023

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Nippon Steel increased sales by 26% in the first half of the FY2022-2023

In April-September 2022, the company reduced steel production by 15.8% y/y