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Nippon Steel Warns China to Tighten Grip on Global Market

  • Chinese mills moving more into high-grade steel: Nippon Steel
  • Demand from automakers is recovering faster than anticipated
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China is set to strengthen its grip on the global steel market as its economy recovers from the coronavirus pandemic faster than rivals and domestic mills expand into higher-quality products, according to Japan’s top producer.

“Chinese steelmakers are working hard on product development,” Katsuhiro Miyamoto, executive vice president of Nippon Steel Corp., said in an interview. “We must stay ahead of them.”