'Nippon Steel May Buy More Interests In Coking Coal Mines, Vice Chairman Says' - Reuters News; U.S. Steel Shares Spike Higher
Portfolio Pulse from Benzinga Newsdesk
Nippon Steel is considering acquiring more interests in coking coal mines, which has led to a spike in U.S. Steel shares.
August 29, 2024 | 5:02 pm
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U.S. Steel shares spiked following Nippon Steel's announcement of potential acquisitions in coking coal mines, indicating positive market sentiment.
The news of Nippon Steel potentially acquiring more interests in coking coal mines suggests increased demand for steel production inputs, benefiting U.S. Steel. This has led to a positive market reaction, causing U.S. Steel shares to spike.
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