【SMM Steel】Unions representing POSCO and Hyundai Steel warned of a structural crisis facing the steel industry in Pohang. The sector is under pressure from global supply chain disruptions, low-priced steel imports, rising carbon transition costs, and increasing industrial electricity prices. These challenges are eroding competitiveness and threatening tens of thousands of jobs. Unions called for urgent action, including lower electricity costs and expanded direct power purchase mechanisms.

【SMM Steel】Fives signed a contract with Hyundai Steel and POSCO to supply coil finishing lines for a new $5.82bn low-carbon steel plant in Louisiana. The facility will produce 2.7 Mt/y, with 70% for auto-grade applications. Hyundai Steel aims to strengthen the local auto steel supply chain in North America. Fives will provide coil handling solutions. The plant deepens its presence in the US auto steel market.

[SMM Steel] Hyundai Steel, POSCO and Fives Group signed a contract for a Louisiana flat steel project focused on automotive-grade production. The $5.82 billion plant will use a DRI-EAF route to produce low-carbon steel, with capacity including 650,000 mt HRC and 2.05 million mt CRC annually, with about 70% dedicated to automotive steel.

【SMM Steel】Hyundai Steel issued FAC to SMS group after upgrading its Dangjin #1 CGL. The two-phase project integrated X-Pact® automation and upgraded hydraulics to improve strip quality and stability. Stage 1 added a new strip washer/dryer. Stage 2 focused on the skin-pass mill for precise flatness. The upgrades reduce downtime and extend equipment life, building on a partnership since 2005.

【SMM Steel】Hyundai Steel began mass-producing low-carbon steel sheets via a hybrid BF-EAF process, cutting CO₂ by ~20% vs conventional BF products. R&D started in 2023 at Dangjin; 25 steel grades certified. Initial supply targets Hyundai, Kia models in Korea and Europe. It's also developing low-carbon heavy plate for offshore wind, eyeing global energy and infrastructure markets.

According to a report by Korea JoongAng Daily, the English edition of South Korea’s JoongAng Ilbo, on June 12, Hyundai Steel, South Korea’s second-largest steel producer, announced that it had temporarily shut down its No. 2 steel mill in Pohang on June 7 due to the prolonged downturn in the industry.