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Nippon Steel to spend $3 billion in U.S. Steel plant equipment upgrade, Nikkei reports

Kitco Media
By Reuters
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Reuters
Nippon Steel to spend $3 billion in U.S. Steel plant equipment upgrade, Nikkei reports teaser image

Nippon Steel (TYO: 5401) will invest about $3 billion in the U.S. Steel-operated Mon Valley works in Pennsylvania to upgrade the plant’s hot rolling facility, the Nikkei newspaper reported on Thursday.

The move is part of the Japanese steelmaker’s pledge to invest $11 billion in U.S. Steel by 2028, following its acquisition of the company in 2025.

Nippon Steel did not immediately respond to a Reuters request for comment outside regular business hours.

Mon Valley’s hot rolling equipment, which heats slabs of iron from blast furnaces and rolls them into thinner steel, has been in operation for about 90 years, Nikkei added.

The new equipment is set to enter operation in the second half of 2029, which would enable production of higher-quality steel, the report said.

Nippon Steel raised its fiscal 2026 earnings forecast in August, lifted by stronger U.S. Steel earnings and a firm steel market.

(Reporting by Nichiket Sunil in Bengaluru; Editing by Vijay Kishore)

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