Japan’s Chubu Steel Plate planned to purchase slabs for its steel rolling production line. In January 2024, a fault occurred in an electric arc furnace at Chubu Steel Plate’s Nagoya plant, causing production to stop.

After emergency repairs, the electric arc furnace resumed production on October 29, 2024. In order to make up for the production gap before full production, Chubu Steel Plate uses purchased slabs to supply the production line, and it is expected to restore full load capacity in January-March this year.

The plant's operation remains suspended, and the company is working on restoration efforts to resume operations by mid-March this year.

Chubu Steel Plate said that the cause of the accident is still under investigation. It is very likely that molten steel leaked from the furnace and came into contact with water in the pit below the electric arc furnace, causing a steam explosion.

The company has not disclosed the losses but expects to sell 530,000 tons of steel products, including steel plates and steel billets. In the 2025-2026 fiscal year, the company planned to increase steel sales to 700,000 tons.