Report
Nippon Steel to spend $3 billion on Pennsylvania hot-strip mill
Bloomberg reports the project will raise annual capacity from around 2.2 million to 3.5 million tons.
TLDR
Nikkei Asia reports Nippon Steel plans to spend about $3 billion updating a 90-year-old mill at U.S. Steel's Mon Valley Works in Pennsylvania. Bloomberg, citing a Nippon Steel statement, says the new hot-strip mill will replace outdated facilities at the Edgar Thomson plant, with commercial operations expected in the second half of 2029. The project is part of an $11 billion investment plan in U.S. Steel.
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