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ArcelorMittal to build new steel plant in US to meet auto sector demand

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ArcelorMittal said on Thursday that it would build an advanced steel manufacturing facility in Calvert, Alabama, as it seeks to increase its production capacity to meet demand from the U.S. automotive sector.
ArcelorMittal, the world's second-largest steelmaker, announced plans to construct a new steel plant in the United States to cater to the growing demand from the automotive sector, particularly for electric vehicles (EVs). The facility, set to be built in Alabama, will produce up to 150,000 metric tons of steel annually, focusing on high-strength, lightweight steel grades that are crucial for EV manufacturing. The plant is expected to start production by 2025, aligning with the increasing need for advanced materials in the automotive industry as it shifts towards electrification. This investment underscores ArcelorMittal's commitment to supporting the transition to sustainable transportation and enhancing its market position in the U.S. automotive supply chain.

Read the Full Reuters Article at:
[ https://www.reuters.com/markets/commodities/arcelormittal-build-new-steel-plant-us-meet-auto-sector-demand-2025-02-06/ ]