Nippon Steel said it will invest about $3 billion to build a hot-strip mill at U.S. Steel’s Mon Valley plant in Pennsylvania. According to Sina Finance, the investment is part of U.S. Steel’s $11 billion investment plan and will replace outdated equipment at the Edgar Thomson Works, increasing annual capacity from about 2.2 million metric tons to about 3.5 million metric tons; the mill is expected to begin operations at the end of 2029.