Nippon Steel - Latest news GMK Center

The terms contrast with the intention of the parties, who expect to close the deal in the spring or by the fall of 2024.

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