Watch Steel Stocks Today Following Nippon's $1.07B Investment in Japan (X, AKS, MT, NUE)

Steel producers are trading up ahead of the market opening today, as Nippon Steel announced that they would invest $1.07 billion to upgrade their Japaneses facilities. The move is to meet an expected surge in demand for steel in Asia.

The company said that it would spend about 40 billion yen to repair one of its blast furnaces at its Kinitsu plant near Tokyo. The other 60 billion will be spent replacing an old coke oven in its Nagoya plant.

Stocks that may react on the news today are:

• United States Steel Corp. (NYSE: X);
  
• AK Steel Holding Corp. (NYSE: AKS);
  
• ArcelorMittal (NYSE: MT); and
  
• Nucor Corp. (NYSE: NUE), among others.

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