Nippon Steel to sell POSCO stake

Just two months after announcing that it would dissolve its 20-year agreement with Baosteel and sell its 50% share in their autosheet joint venture to the Chinese mill, Japan's Nippon Steel intends to liquidate the small stake it has in POSCO Holdings (POSCO HD), Nippon Steel announced on September 24.

But whereas withdrawing from Baosteel-Nippon Steel Automotive Steel Sheets last month effectively ended Nippon Steel's direct relationship with Baosteel – it still owns part of WISCO-Nippon Steel Tinplate Co in Wuhan under the Baowu Steel Group umbrella, as Mysteel Global reported – Nippon Steel emphasized on Tuesday that after