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Japan's top steelmaker cedes crown to Arcelor as yen soars

Nippon Steel is neck and neck with revitalised Posco in South Korea for second place

Published Fri, Aug 5, 2016 · 09:50 PM
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Tokyo

JAPAN's biggest steelmaker is top of the pile no more, as a resurgent yen hands a competitive advantage to overseas rivals amid an unprecedented global glut.

Nippon Steel & Sumitomo Metal Corp has been overtaken as the world's most valuable producer by Europe's ArcelorMittal and is neck and neck with a revitalised Posco in South Korea for second place.

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