ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Trade war

Nippon Steel to cut capex 10% due to slowdown over trade war

Move may induce other companies to also reduce expenditures

Nippon Steel will postpone a planned blast furnace upgrade at its subsidiary's plant in Hiroshima Prefecture.

TOKYO -- Nippon Steel plans a 10% cut in its planned capital spending of 1.7 trillion yen ($16 billion) for three years through fiscal 2020, as the steel market slumps due to increased Chinese production and fallout from the U.S.-China trade war.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more