Hyundai Steel, in partnership with Hyundai Motor Group, announced a $5.8 billion investment to build a new steel plant in Louisiana, U.S., with an annual capacity of 2.7 million tonnes.
This move is part of a broader $21 billion investment plan by Hyundai Motor Group in the U.S., revealed during a meeting with U.S. President Donald Trump at the White House on Monday.
The news initially sent Hyundai Steel's shares up by more than 5%, but the gains were quickly reversed, with shares ultimately dropping 4.4% later in the session, despite Trump’s praise for the company’s investment. Meanwhile, Hyundai Motor and Kia Corp, which are expected to source steel from the new plant, saw their shares rally. Hyundai Motor's stock surged as much as 7.5%, reaching its highest point since October 2024, while Kia’s shares gained 4.3%.
The proposed plant marks a significant expansion for Hyundai Steel in the U.S., as the company continues to build its presence in the North American market amid growing demand for steel. The new facility is expected to support Hyundai Motor Group’s continued push for greater manufacturing and supply chain integration in the U.S.
Rwanda and the Democratic Republic of Congo have signed a U.S.-brokered peace agreement, raising hopes of ending fighting that has killed thousands and displaced hundreds of thousands this year.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
Denmark’s Arctic chief has dismissed concerns over a U.S. takeover of Greenland but says more must be done to deter any Russian attack on the strategically vital Arctic island.
The U.S. Supreme Court could decide on Friday whether to allow enforcement of Donald Trump’s order limiting birthright citizenship, a move that would end automatic citizenship for many children born on American soil.
Rwanda and the Democratic Republic of Congo have signed a U.S.-brokered peace agreement, raising hopes of ending fighting that has killed thousands and displaced hundreds of thousands this year.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
Rwanda and the Democratic Republic of Congo have signed a U.S.-brokered peace agreement, raising hopes of ending fighting that has killed thousands and displaced hundreds of thousands this year.
U.S. President Donald Trump has said he would consider further bombing of Iranian nuclear sites if Tehran’s uranium enrichment reaches levels that raise concerns in Washington.
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
The Kremlin has voiced strong concern over Estonia’s readiness to host NATO’s nuclear-capable F-35A jets, calling the move an immediate danger to Russia.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment