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Nippon Steel to Look for Alternatives to Russia, Ukraine for Raw Materials

By Miho Inada

 

TOKYO--Nippon Steel Corp. said Monday that it is looking for alternatives to Russia and Ukraine for supplies of raw materials.

The company "is considering alternative sources for iron ore depending on how the situation unfolds" in Ukraine, spokesman Tsuyoshi Yoshizumi said.

He said 14% of Japan's imports of iron-ore pellets, which are raw materials for steelmaking, come from Russia and Ukraine.

Alternative sources for the raw materials include Brazil, Australia and other countries, he said.

 

Write to Miho Inada at miho.inada@wsj.com

 

(END) Dow Jones Newswires

February 27, 2022 20:50 ET (01:50 GMT)

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