Nippon Steel Corp., bracing for possible disruptions to its iron-ore supplies from Russia and Ukraine, is planning to make up any shortfall by buying more of the steel-making ingredient from alternative sources in Brazil and Australia.
About 14% of the company’s iron ore pellet feedstock currently comes from Russia and Ukraine, Takahiro Mori, executive vice president of Japan’s biggest steelmaker, said in an interview this week.
Nippon Steel has been in discussions with other suppliers, including Brazilian giant Vale SA, to buy more as tensions in Eastern Europe increase, he said. Iron ore pellets are a highly concentrated form that make up an undisclosed portion of all the company’s iron ore purchases.
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