This raw steel will have to be produced in blast furnaces in other countries, such as China and India. The electric arc furnaces can recycle scrap steel, which is a good thing, but it will be ...

JFE Steel, Japan's No. 2 steelmaker and a unit of JFE Holdings , said on Thursday it will invest 329.4 billion yen ($2.26 billion) to build a large, advanced electric arc furnace (EAF) at its ...