U.S. Steel Drives Over 40% of Nippon Steel’s Q3 Profit as Prices Surge

U.S. Steel’s robust gains, powered by tariffs and data‑center demand, outweigh Japan’s weakness for now

U.S. Steel is benefiting from a surge in steel prices as tariffs limit imports and data‑center demand accelerates. (Photo by Hiroki Endo)

RIHO TAKAHASHI and AZUSA KAWAKAMI

November 5, 2026 05:06 JST

TOKYO/NEW YORK — U.S. Steel is expected to contribute over 40 percent of Nippon Steel’s July‑September profit, driven by higher prices for American steel products. Nonetheless, a Democratic‑controlled Congress’s possible moves to rein in AI growth could create new uncertainties for the sector.

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