[POSCO, KB Kookmin Bank Launch Supply Chain Finance Service]

POSCO plans to invest $359 million to build an automotive steel plant at its integrated steel mill in Gwangyang, South Korea, Steel Times International reported on September 8. The plant will have an annual capacity of 450,000 tonnes and include POSCO’s eighth continuous galvanising line at the site. POSCO currently operates seven galvanising lines with a combined capacity of 4.5 million tonnes/year. The new facility is expected to be completed in 2028, strengthening POSCO’s automotive steel production capacity and competitiveness in manufacturing costs and technology.

Hyundai Steel held a ceremonial groundbreaking for its $5.8 billion electric arc furnace-based steel mill in Louisiana, held at the RiverPlex MegaPark in Ascension Parish under the slogan "Building the Future of Steel, Together with Louisiana." The investment marks Hyundai Steel's first North American steel production base, with the mill set to have a capacity of 2.7 million tonnes per year, producing hot-rolled and cold-rolled steel sheets primarily for automotive applications. The project is expected to create 5,400 jobs, including 1,300 direct positions, with production targeted for 2029.

[Indonesia] Another quiet day in the market as HRC prices remained at 520 USD/metric ton FOB. There was no market movement as buyers and producers continue to wait and see how the situation develops. Currently, even market participants cannot predict future market movements, and buyers have stated they will wait for the latest news from the Chinese steel industry, which sets steel prices in the Southeast Asian region. If there is absolutely no movement in the market, prices this week are likely to remain stable.