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Japan's leading steel manufacturers Nippon Steel and Sumitomo Metal Corp will create a new steel mill to specifically create automotive steel as part of a JV with China's Baosteel Group Corp.The Nikkei reports that the investment will likely total 30 billion Yen/302.6 million USD, the largest investment in China since September 2012 when wide scale anti-Japanese protests broke out across China over the Diaoyu Islands issue.