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Nippon Steel to build auto steel facility in China

Steel News - Published on Wed, 12 Jun 2013

Reuters reported that Japanese steel manufacturer Nippon Steel & Sumitomo Metal Corp will build a mill for automotive steel sheet in China under a joint venture with China\'s Baosteel Group Corp.

The Nikkei said that the investment will likely total JPY 30 billion (USD 302.6 million).

This would mark the largest Chinese investment by a Japanese company since anti-Japan demonstrations broke out in September amid the Senkaku Islands dispute.

Source - Reuters and The Nikkei

(www.steelguru.com)

Posted By : admin on Wed, 12 Jun 2013
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