“My understanding is steel consumers, steel customers are much happier with Nippon as the buyer,” Wolfe Research analyst Timna Tanners said at the Tampa Steel Conference.
Nucor acknowledges it was interested in acquiring some of United States Steel's assets, but dropped out of the bidding near the end over concerns about the price.
Global mining giant BHP announced on Friday that it has kicked off a commercial-scale direct reduced iron production project with China Baowu Steel Group Corporation to support steelmaking decarbonization development in China.