Market Segment
May 8, 2026
Written by Ethan Bernard
South Korea’s Hyundai and POSCO have chosen Italian mill equipment provider Danieli to build several installations at their proposed steel mill in Louisiana.
The contracts given to Danieli include two electric-arc furnaces with secondary metallurgy, two thick slab casters, and two slab reheating furnaces, Danieli said in a statement on May 4.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.