Market Chatter: Nucor Unconcerned by Nippon Steel's US Steel Acquisition

MT Newswires Live07-22 17:43

Nucor (NUE) said Nippon Steel's (NPSCY) acquisition of United States Steel Corporation (X) has had little impact on its business strategy, Nikkei reported Wednesday, citing comments from Chief Operating Officer Stephen Laxton.

Laxton said Nippon Steel's entry into the US market changes the competitive landscape but does not alter Nucor's strategy, adding the company remains focused on organic growth rather than acquisitions, according to the report.

He also said US steel demand is expected to rise about 1% to 2% in 2026, supported by infrastructure spending and investment in AI data centers despite labor and power constraints, the report added.

Nucor did not immediately respond to MT Newswires' request for comment.

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