International Steel Mills

Hyundai mulls building $6B sheet steel mill in southern US

Written by Laura Miller

January 8, 2025

Hyundai Motor Group is reportedly considering building a sheet steel mill just south of Baton Rouge, La.

Sources familiar with the project told The Advocate that the steel mill, the company’s first in the US and the first in an overseas market, would serve the Hyundai assembly plant in Montgomery, Ala., and the Kia assembly plant in West Point, Ga. It would provide the automotive steels for the 600,000+ vehicles the company sells annually in the US.

The sources said groundbreaking on the more than $6-billion mill could begin as soon as 2026 and production by 2029, pending the approval by state and local governments.

By producing its steel in the US instead of importing Korean material, Hyundai would save on shipping and logistics costs and avoid the potential new tariffs the incoming Trump administration has in the works, the Advocate pointed out.

Other attractive points include cheap natural gas and electricity to power the mill and easy access to transportation routes.

Additionally, the Advocate said Louisiana Economic Development has offered Hyundai tax and rebate incentives to build the mill in the state.

“Hyundai Motor Group officials confirmed the group is “reviewing” the construction of a steel mill in the US, but declined to give further details,” the Korea Economic Daily reported on Tuesday.

Hyundai did not respond to an SMU request for more information.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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