IN BRIEF: JFE Steel planning Mexico plant
JFE Steel plans to begin producing automotive steel sheet in a new Mexican plant.
The Japanese steelmaker is in talks with US-based Nucor about investing US$265mn in a jointly-run factory with a capacity of about 400,000t/y, news website Nikkei Asian Review reports.
The plant, expected to begin output in 2019, will mainly supply car doors and frame components to other facilities in Mexico.
Mexico's growing car industry has sparked investment in the steel sector, despite pressure due to low prices related to Chinese overcapacity, as well as cheap imports.
Grupo Simec announced plans for a US$600mn special bar quality steel plant in Mexico in November.
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