Posco Group is considering a financial investment in Hyundai Steel's (KRX:004020) planned $5.8 billion electric arc furnace steel mill in Louisiana, potentially securing a share of the output to navigate US steel tariffs, Pulse News reported Monday.
The plant is expected to have a production capacity of 2.7 million tons on an annual basis. Hyundai Steel aims to commence operations of the plant by 2029, with half the funding sourced externally, it said.
If the financial investment is finalized, the tie-up would mark the first collaboration between South Korean steel rivals to establish joint production in the US, according to the report.
Posco Holdings (KRX:005490) is the holding company of POSCO Group. Shares of Posco Holdings rose more than 1% while those of Hyundai Steel increased nearly 4% in recent trade on Tuesday, April 15.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。