Nippon Steel

In annual terms, production remained stable

In the 2022/2023 financial year, the company reduced the volume of steel production by 11.4%

Shipments in this period increased by 5.7% y/y

This acquisition will expand the company's processing capabilities and product portfolio

The cost of the project may be about $733 million

In the first half of the 2023/2024 financial year, Nippon Steel will increase in price for the Japanese automaker by $74/t

The companies will conduct research at Nippon Steel's steel mills

The company will also continue to invest in coking coal production

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

Companies are expanding operations in these countries against the background of the energy crisis in Europe and weakening demand in Japan

It is expected that the volume of deliveries will be 300,000 tons of green steel per year

A new agreement between Japan's biggest players could dramatically affect the cost of steel products for other sectors