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Nippon Steel to seek more merger chances to boost global output -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A production line of Nippon Steel & Sumitomo Metal Corp.’s Kimitsu steel plant is pictured in Kimitsu, Chiba Prefecture, Japan, May 31, 2018. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) – Japan’s top steelmaker Nippon Steel Corp is seeking more merger and acquisition (M&A) opportunities to boost its global output capacity to 100 million tonnes, an executive said on Thursday, after its recent decision to buy two Thai steelmakers.

After China’s Lunar New Year holidays and Beijing Winter Olympics, overseas steel markets will recover. The higher price of raw materials as well as an economic stimulus expected by the Chinese government are what Nippon Steel Executive Vice Presidential Takahiro mori stated at an earnings news conference.

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