By Yuka Obayashi and Kentaro Okasaka TOKYO, June 18 Nippon Steel, the world’s No. 3 steelmaker, expects the American market to remain buoyant, supported by import tariffs and resilient demand, which could lift earnings at U.S.
Steel beyond current forecasts, Vice Chairman Takahiro Mori said. “We are confident that U.S
Steel will be able to post profits in excess of 100 billion yen ($624 million) this year,” Mori said, adding that the strong market outlook through 2027 suggested additional upside. He said U.S. Steel would generate an annual profit of 300 billion yen to 400 billion yen in the long run.
Mori described U.S. conditions as highly favourable, with hot-rolled steel sheet prices above $1,200 per metric ton, more than double the level in Asia. To capitalise on the strong pricing environment, U.S. Steel resumed an idled Illinois blast furnace in March and is now running it at full capacity.