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Korea's LGES inks US energy storage system battery deal
Korea's LGES inks US energy storage system battery deal
Singapore, 26 March (Argus) — South Korean battery manufacturer LG Energy Solution (LGES) has secured a deal to supply Taiwanese electronics manufacturing firm Delta Electronics a total 4GWh of residential energy storage system (ESS) batteries. The two firms signed a "strategic partnership" and the US-produced batteries will be supplied during 2025-30, said LGES on 26 March. LGES will begin the production of lithium-iron-phosphate (LFP) ESS batteries in the second half of 2025 at its plant in Holland, Michigan, which will be equipped with an ESS production line. They will also under the partnership explore the power grid and commercial ESS markets, said LGES. Delta last year agreed to jointly develop new electric vehicle (EV) charging architecture in the US alongside the US' EV public charging station provider EVGo. LGES last year said it plans to reduce its dependence on the EV battery business and is looking to produce ESS cells in the US from 2025 through its subsidiary, LGES Vertech. The anticipation of higher tariffs on Chinese ESS batteries coming into effect in the US has driven LGES to expect greater growth in market demand for US-produced batteries, the firm said. The firm earlier this week signed another LFP ESS battery deal with Polish state-controlled utility PGE and it intends to also expand ESS battery production in Europe. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US consumer expectations at 12-year low: Survey
US consumer expectations at 12-year low: Survey
Houston, 25 March (Argus) — The Conference Board's preliminary Consumer Expectations Index fell in March to its lowest in 12 years, to below a threshold that "usually signals" a recession ahead. The Expectations Index, based on the short-term outlook for income, business and labor-market conditions in the US, dropped 9.6 points to 65.2, the lowest level in 12 years and "well below the threshold of 80 that usually signals a recession ahead," according to the survey. The headline Consumer Confidence index fell by 7.2 points to 92.9 in March, marking a fourth month of declines. The Present Situation Index, reflecting consumer assessments of current business and labor-market conditions, fell by 3.6 points to 134.5. The survey cutoff date for preliminary results was 19 March. US consumers' expectations were "especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low," according to the report. Average 12-month inflation expectations rose to 6.2pc in March from 5.8pc in February "... as consumers remained concerned about high prices for key household staples like eggs and the impact of tariffs." "Comments on the current (US) administration and its policies, both positive and negative, dominated consumers' write-in responses," the report said. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Hyundai Steel to build EAF mill in Louisiana
Hyundai Steel to build EAF mill in Louisiana
Houston, 24 March (Argus) — South Korean automaker Hyundai Motor Group said today it plans to build an electric arc furnace (EAF) flat steel mill near New Orleans, Louisiana, to support its US auto manufacturing plants. The 2.7mn metric tonnes (t)/yr (3mn short tons/yr) mill in Donaldsonville, Louisiana, will primarily supply Hyundai's automotive plants, which are located in Alabama and Georgia, along with plants run by Hyundai-subsidiary Kia and other US automakers, according to the Louisiana Economic Development organization. Construction is expected to begin in the third quarter of 2026. Hyundai detailed the $5.8bn investment on Monday at a news conference with US president Donald Trump. Trump said the mill would allow Hyundai to avoid US steel tariffs. The president has enacted 25pc steel tariffs on imports from all countries, including from South Korea where Hyundai has all of its 24mn metric tonnes (t) of steel output capacity. That production is split evenly between blast furnace and EAF steelmaking processes. Between Hyundai and Kia, the companies have a combined annual production rate of 1.05mn vehicles/yr in the US. Hyundai Steel, a unit of Hyundai Motor, plans to import an estimated 3.6mn t/yr of iron ore to the mill, and will build a deep-water dock on the west bank of the Mississippi River in Ascension Parish to accommodate steel and materials shipments, according to LED. It was not clear whether the iron ore will be reduced in a direct reduced iron (DRI) or hot-briquetted iron (HBI) process to use in the EAF steelmaking. If built, the mill would be the first flat steel mill in Louisiana. The location in Donaldsville is about 48 miles west of New Orleans. Steelmakers operate eight EAF and re-rolling flat-rolled steel mills in the southern US with a combined 23.8mn t/yr of production capacity. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Mineral Resources reopens Australian iron ore haul road
Mineral Resources reopens Australian iron ore haul road
Sydney, 24 March (Argus) — Australian iron ore producer Mineral Resources (MinRes) reopened its private Onslow haul road late on 21 March, following conversations with Western Australia's (WA) safety regulator Worksafe WA. The company had closed the 150km highway, which links its Onslow iron ore project to the Port of Ashburton, on 19 March. Two ore-filled road train trailers heading towards the port tipped over on 17 March, prompting Worksafe WA to issue MinRes a notice about safety risks along the road. The Onslow haul road has faced significant challenges over recent months. Cyclone Sean hit WA in late January and damaged it, after four road trains moving ore along the highway toppled over between August-November 2024. But MinRes is taking steps to improve its private road. The company in January announced plans to look at a possible redesign of the highway in January, and on 24 March announced it will finish upgrading parts of it by September. MinRes is planning to ramp up production at Onslow to 35mn t/yr during the July-September quarter, having expanded the site's export capacity from 21mn t/yr to 28mn t/yr on 22 March. The company also chose to leave its full-year Onslow export guidance unchanged at 8.8mn-9.3mn wet metric tonnes (wmt) of ore on 24 March. MinRes produced 58.4pc Fe grade iron ore at Onslow over July-December 2024. Argus ' prices for iron ore fines 58pc Fe cfr Qingdao have been volatile over the last three months, rising from $88/t on 23 December to $94.70/t on 21 February, before falling back down to $85.70/t on 21 March, when it was last assessed. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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