POSCO mulls teaming up with Hyundai on Louisiana mill

South Korea’s POSCO is eyeing linking up with Hyundai Steel, another Korean steelmaker, in a project to build a steel plant in Louisiana, according to media reports.

Hyundai announced plans in late March to build $5.8-billion EAF steel mill in Louisiana to supply steel for the company’s automotive interests in the southeastern US.

A Reuters article said the move by POSCO came in response to US tariffs on steel.

Recall that President Donald Trump overhauled Section 232 tariffs on steel and aluminum in mid-March.

Before that, South Korea was subject to a quota in exchange for exemption from the 25% tariff. Trump’s changes resulted in South Korea losing its quota and becoming subject to the same 25% tariff as other nations.

POSCO and Hyundai didn’t respond to requests for comment for this article.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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