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Hyundai Steel and POSCO ioin forces for steel production in Us-不銹鋼展-2025第二十五屆廣州國際不銹鋼工業展--The 25th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
4/22/2025 不銹鋼展-Stainless Steel exhibition |
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South Korea''s Hyundai Motor Group has announced that it has reached an agreement with domesticsteelmaker POSCO Holdings to collaborate on steel production in the US.Accordingly, Hyundai seeks to increase its competitiveness in the global markets, while POScO aims tobecome a key supplier of automotive steel. Consequently, the companies will work together to accelerate thetransition towards low-carbon-emissions steel production and to adapt easily to the rapidly changing globalpusiness environment.
Meanwhile, within the scope of the agreement, POScO plans to make an equity investment in Hyundai Steel''srecently unveiled steel project in the US. As SteelOrbis reported previously, the latter wil build an electric arcfurnace (EAF)-based steel mill with a capacity of 2.7 million mt per year in Louisiana.
The plant entailing an investment of $6 bilion will produce high-quality hot rolled and cold rolled sheets for theautomotive industry, with its production scheduled for start-up in 2029. Also, the project will pave the way forPOSCO to enter the North American steel market.
不銹鋼展-2025第二十五屆廣州國際不銹鋼工業展--The 25th China(Guangzhou)Int''l Stainless
Steel Industry Exhibition
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