Market Chatter: Hyundai Steel Considers Selling Caterpillar Track Unit

MT Newswires Live

Jun 03, 2025

South Korean steelmaker Hyundai Steel (KRX:004020) is considering selling the caterpillar track division of its Pohang plant to Daejoo.KC, as part of restructuring efforts amid weak construction demand and increasing Chinese competition, Yonhap News reported Monday.

Sales from the unit plunged 65% last year, prompting Hyundai Steel to guarantee employee job security through internal relocation. The move follows broader emergency measures, including temporary plant shutdowns and a $5.8 billion investment plan for a new US steel mill to offset tariff pressures, the report said.

(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.)

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The move follows broader emergency measures, including temporary plant shutdowns and a $5.8 billion investment plan for a new US steel mill to offset tariff pressures, the report said.</p><p>(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. 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The move follows broader emergency measures, including temporary plant shutdowns and a $5.8 billion investment plan for a new US steel mill to offset tariff pressures, the report said.(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.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}