Something exciting is happening in the U.S. steel industry — and given *gestures broadly at the world right now* — that’s worth celebrating. We’re seeing the early steps toward a green steel industry in America. Here’s what’s happening:

• Hyundai is building a cleaner steel mill in Louisiana to supply its cars with low-carbon steel. The $5.8 billion project will produce 2.7 million tons a year. The green hydrogen to power it is still a few years off, but Hyundai is doubling down on green hydrogen while others are backing away — a clear sign they see opportunity.
• You can now buy green steel in the US. Swedish steel company SSAB is importing fossil-free iron from Sweden and processing it at its Iowa plant, with GE’s wind division as its first buyer. Shipping iron halfway around the world is a little nuts, but it proves there’s real demand and shows how valuable a domestic green-iron supply would be.
• Toyota is getting in on green steel, too. As part of an announcement that green steel start-up Electra will begin producing green iron in 2026, Toyota is helping move Electra’s clean iron through the steel supply chain and back into cars. The volumes are small for now, but the market signal keeps getting stronger.

A steelworker watches a furnace from the distance inside a mill.

Big picture: The U.S. is finally building both the market and the supply for green steel. The auto industry — responsible for about 60 percent of new steel demand — holds the key. While Toyota is starting to dip its toes in the water, Hyundai seems to be going all in.

You might be asking, where the heck are Ford and GM? Are they going to be left behind again? Great question. More on that soon.

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