$PKX

Hyundai Steel and POSCO are partnering to build a steel mill in Louisiana, with Hyundai Steel holding a 50% stake. Hyundai Steel aims to supply automotive steel to U.S. automakers, while POSCO plans to expand its North American steel market presence. The mill will help both companies reduce carbon emissions and improve supply chain stability.

POSCO, a South Korean steelmaker, faces its first strike in 58 years as wage talks stall. The union demands higher raises and bonuses, while management cites financial struggles. CEO Lee Hee-geun canceled a U.S. trip to focus on negotiations. POSCO's H1 operating profit fell 43.3% YoY to 487.3 billion won. A strike could disrupt supply chains for major industries.

Hyundai Motor Group, POSCO, and others are investing $5.8B in HPLS, a U.S. steel mill producing 2.7M tons annually, aiming to supply automotive and AI infrastructure. The project, with 70% lower carbon emissions, targets the North American high-value steel market and potential SpaceX supply.

Jet Zero Australia, a biofuel company, raised $30 million from POSCO, Airbus, and Qantas, bringing total investment to over $80 million. The company could be valued at $500 million, benefiting from higher oil prices that make sustainable aviation fuels more attractive.

Hyundai Steel and POSCO began constructing a $5.8B steel plant in Louisiana, targeting 2.7M tons/year production by 2029. The project, with 50% Hyundai Steel ownership, aims to create 5,400 jobs and reduce carbon emissions by 70%. It's part of a $26B U.S. investment plan to strengthen supply chains and compete with local steel prices around $1,200/ton.

Hyundai Motor Group's chair, Chung Eui-sun, aims to supply low-carbon steel from a U.S. mill to companies like SpaceX. The mill, HPLS, is a joint venture with POSCO Group and will produce 2.7 million tons annually, with 1.8 million tons for automotive use. Chung highlighted the mill's potential to reduce carbon emissions by 70% and produce high-quality steel for various applications, including rockets.

Posco and Hyundai Steel plan to expand overseas steel production to 10 million tons by 2031, using their joint venture HPLS in Louisiana as a base. HPLS will produce 2.7 million tons annually of low-carbon automotive steel starting 2029. The companies aim to strengthen their global competitiveness and secure stable supply chains.

South Korea's industry minister urged the U.S. to ease tariffs on equipment for a $5.8B steel mill in Louisiana, a joint venture by Hyundai Steel, Hyundai Motor, Kia, and POSCO. The project aims to strengthen supply chains and support U.S. automakers, with production starting in 2029.

Posco will use BHP's iron ore to test its HyRex hydrogen-based DRI technology at a 300,000 tonne/year demo facility in Pohang. The firms aim to advance R&D beyond resource trade, following an earlier MOU. The project, initially planned for 2028, could offer a decarbonization route for steel, despite high costs deterring some major players.

POSCO and BHP have partnered to commercially validate HyREX, a hydrogen-based steelmaking process. POSCO will test HyREX's stability using BHP's iron ore, aiming to reduce carbon emissions. The collaboration follows a 2023 MoU and aligns with POSCO's low-carbon technology roadmap.