Nippon Steel to Pour $3.1 Billion Into US Steel’s Indiana Furnace

Nippon Steel Corp. will spend about $3.1 billion to overhaul United States Steel’s largest blast furnace in Indiana in 2026, according to details reported by Nikkei. The outlay—roughly ¥460 billion—covers the furnace and related facilities and forms part of a broader plan to invest $11 billion in US Steel through 2028. US Steel chief executive David Britt outlined the timetable at an industry event in Georgia, marking the first time the company has specified the scope and schedule of the Indiana upgrade. Separately, the American Iron and Steel Institute has asked the White House to review a $500 million transaction in Brazil that could give Chinese entities greater influence over global nickel reserves, a key input for stainless steel and battery production. The industry group said the deal poses strategic risks to US supply-chain security and urged the administration to consider possible interventions.