International Steel Mills
Hyundai mulls building 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
Read more from Laura MillerLatest in International Steel Mills
CRU: Nippon Steel claims breakthrough in hydrogen use
Japan’s Nippon Steel says it has achieved the world’s highest reduction in CO2 emissions to date by using heated hydrogen instead of coal to reduce iron ore in a blast furnace.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
Nippon respects HR dumping decision, expects lower rate in next review
Nippon Steel says it respects the US Department of Commerce’s findings in administrative reviews despite the agency recently assigning the Japanese steelmaker a higher dumping margin.
Nippon still sees USS deal closing by end of ’24: Report
Japan’s Nippon Steel still anticipates closing on its proposed deal to acquire U.S. Steel by the end of 2024.