Nippon Steel is considering closure, sale, or modernization of its Košice steel mill

Nippon Steel is considering the closure, sale, or modernization of its Košice steelworks, according to HN sources. "If it cannot find a way to modernize the plant in cooperation with the state, it will consider whether to keep it operating," confirmed Environment Minister Tomáš Taraba. Following its acquisition of U.S. Steel, the Japanese owner is prioritizing its American operations. It previously outlined a plan in Košice to build a new electric arc furnace with an annual capacity of 1.5m to 2.1m tons, about half of its current 4.5m ton capacity. The fate of both the investment and the plant hinges on EU plans to cut free emission allowances after 2030, as well as the outcome of the war in Ukraine, the source of the plant's iron ore and coal supplies.

(hnonline.sk)