Metals
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The global metals markets are evolving rapidly, shaped by shifting supply chains, rising demand for critical minerals, geopolitical uncertainty, and increasing price volatility across ferrous, non‑ferrous and emerging technology metals. Argus provides independent metals pricing, trusted benchmarks and actionable market intelligence that give mining companies, metal producers, traders, manufacturers and recyclers the clarity and confidence they need to navigate increasing cost exposure, manage risks and make data-driven decisions.
Covering the steel supply chain, base metals, critical metals including rare earths, scrap, ferroalloys, raw materials and energy‑transition metals, Argus delivers accurate, reliable price assessments that reflect real market activity. Companies worldwide reference Argus metals benchmarks in physical and financial contracts to ensure fair, consistent and market‑aligned pricing, a crucial advantage in regions where regulatory environments, trade flows and cost structures vary dramatically.
With expert analysis, regional metals prices, market reporting, and fundamentals data, Argus helps users track market sentiment, identify key metals price drivers and stay informed on developments across ferrous, non‑ferrous and critical minerals markets, supported by localized coverage in the most active trading regions. This includes rapid shifts driven by developments in emerging supply chains, logistics constraints, shifting demand conditions, energy and input‑cost volatility, and China’s dominant role in global metals supply and demand, where changes in production, export policy, or refining capacity can quickly move global metals prices, availability and trade flows.
Argus empowers stakeholders across steel, raw materials, non‑ferrous and critical metals markets with reliable data, clear insights and a deeper understanding of global metals‑market dynamics, helping businesses remain competitive, agile and prepared for what’s next.
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Argus offers comprehensive coverage across all major metals markets, providing independent pricing and market intelligence for steel, steel raw materials, base metals, alloys, scrap, pipe and tube, battery materials, rare earths and specialty and minor metals. Our pricing and market intelligence provide a clear, structured view of metals markets worldwide, helping you monitor key trends and respond to shifting market dynamics with confidence.
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Latest metals news
Browse the latest market moving news on the global metals industry.
US exempts pig iron from new Brazil tariffs
US exempts pig iron from new Brazil tariffs
London, 16 July (Argus) — The US will exempt pig iron and iron ore from new 25pc tariffs on Brazilian imports, the United States Trade Representative said on 15 July. Many Brazilian pig iron market participants had expected to face US tariffs , with some looking at Europe as an alternative destination. But mills in Europe have only a fraction of the US' pig iron demand, so some producers are concerned they will have to ramp down or heavily discount shipments to the US. Producers in Ukraine and India had also hoped to capitalise on new US tariffs on Brazil, expecting higher prices and a larger share of the US market. The exemptions will limit opportunities for them, but most market participants expect the ruling to have little immediate impact. "Both sides need to digest a little," a European trader said today. "The Brazilians have switched to more domestic sales, and the US customers have started importing from elsewhere, India in particular." Another trader argued that Brazilian producers will have to sell at lower prices than they secured in June, citing intense competition from other countries. "It is the summer season, so it is quieter, and Indian offers probably put a cap on Brazil," he said. "If India is [offering] around $480/t cfr Nola, Brazil may be around $495-500/t cfr, so $460-470/t fob." Argus assessed basic pig iron at $491.25/t fob southern Brazil on 14 July, with few new price signals as Brazilian producers kept away from the spot market ahead of the tariff ruling. Buyers in Europe could have benefited from US tariffs on Brazil. The EU considers Brazilian pig iron to be less carbon-intensive than Indian or Ukrainian material because it is made with charcoal, leaving Brazilian products with lower carbon border adjustment mechanism charges in the EU. If Brazilian producers could no longer price into the US, European buyers may have been able to negotiate lower prices for pig iron. The new tariffs will probably have only a limited impact on Brazilian industry in general, with a long list of exemptions covering most Brazilian products sold to the US. "It is much like last time, there are exemptions for a huge amount [of products], as most are consumer-facing or not produced domestically," the second trader said. The US could still slap a 12.5pc forced-labour tariff on Brazilian pig iron as part of its section 301 investigations, which are set to end on 24 July. But many in the market view both investigations as a political manoeuvre to enforce maximum tariffs after the US Supreme Court ruled against President Donald Trump's 2025 "Liberation Day" tariffs in February, meaning the US could exempt the same products in the second ruling. By Austin Barnes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Sinopec extracts lithium from oilfield-produced water
Sinopec extracts lithium from oilfield-produced water
Beijing, 16 July (Argus) — Chinese state-owned oil and chemicals company Sinopec completed a pilot trial of its proprietary lithium extraction technology using produced water from the Yuanba gas field — operated by its southwest oil and gas subsidiary. The technology, known as the "rapid adsorption and desorption" process, was independently developed by Sinopec's engineering and construction subsidiary, the company said today. The pilot completed the entire process from lithium extraction to precipitation and drying, producing industrial-grade lithium carbonate. The technology can cut production costs by more than 35pc compared with conventional lithium extraction processes, while shortening the processing route and improving extraction efficiency, Sinopec said. It marks a key technological breakthrough in integrating oil and gas production with new energy resources. The development could provide an additional source of lithium supply from oilfield-produced water, complementing traditional lithium production from brines and hard-rock deposits, it said. Oilfield-produced water refers to formation water that is brought to the surface together with oil and gas during petroleum or natural gas extraction. Its composition can vary significantly depending on geological conditions and the stage of reservoir development. For oil and gas fields located within lithium-rich mineral belts, lithium extraction from produced water could offer considerable commercial potential. Global lithium demand is expected to reach 3.5mn t of lithium carbonate equivalent (LCE) by 2036, driven by continued growth in the electric vehicle (EV) and energy storage system (ESS) sectors, according to Argus Consulting forecasts. Market participants have increasingly focused on alternative lithium resources as China seeks to strengthen domestic supply security. China is the world's largest consumer of lithium, but accounts for only around 7pc of global lithium resources and relies on imports for approximately 70pc of its lithium supply, according to industry data quoted by Sinopec. Sinopec's move highlights a wider shift by traditional energy companies into new energy sectors as they diversify their businesses in response to government decarbonisation targets and the accelerating global energy transition. Sinopec signed an agreement with leading new energy vehicle (NEV) manufacturer BYD in June to jointly develop fast-charging infrastructure — a move expected to support adoption of NEVs. Sinopec has also invested in China's largest battery producer, CATL, to help reach its target of building 10,000 EV battery exchange stations. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
China's EV fleet nears 50mn in June on rapid adoption
China's EV fleet nears 50mn in June on rapid adoption
Beijing, 16 July (Argus) — China's new energy vehicle (NEV) fleet reached 48.97mn units at the end of June, accounting for 13.2pc of the country's total vehicle fleet, according to data released by the Ministry of Public Security. The share of NEVs in China's vehicle fleet increased by 2.9 percentage points from a year earlier, highlighting the continued rapid adoption of electric vehicles (EVs). Battery electric vehicles (BEVs) accounted for 68.8pc of the country's total NEV fleet at 33.68mn units. NEVs in China include BEVs, plug-in hybrid EVs (PHEVs) and fuel-cell vehicles. China registered 5.2mn new NEVs in the first half of 2026, accounting for 49.4pc of all newly registered vehicles. The proportion was 4.5pc higher than a year earlier and indicates that nearly one in every two newly registered vehicles was a NEV. Rapid progress in vehicle intelligence, continued expansion of charging infrastructure and higher oil prices resulting from the Middle East conflict have all accelerated the adoption of EVs in China. The continued growth in China's EV market supports demand for battery materials such as lithium, nickel, cobalt and graphite, as well as copper used in vehicles and charging infrastructure. China aims to increase the share of NEVs in its national vehicle fleet to 30pc by 2030 under a new carbon emissions reduction plan released by the State Council last week. The country's Hainan province has outlined plans to implement a ban on the sale of new internal combustion engine (ICE) vehicles by 2030, potentially making it the country's first province to phase out new fuel vehicle sales. This has reinforced expectations that gasoline consumption is entering a structural decline . China's total motor vehicle fleet reached 476mn units at the end of June, including 371mn automobiles, according to the ministry. A total of 105 Chinese cities had automobile fleets exceeding 1mn vehicles as of the end of June. Chengdu, Chongqing and Beijing each had more than 6mn automobiles in circulation. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asian ferrous scrap prices ease further in 1H July
Asian ferrous scrap prices ease further in 1H July
Shanghai, 16 July (Argus) — Imported scrap prices in Asia extended their decline in the first half of July as inclement weather conditions stifled construction activity, creating further headwinds for domestic steel and raw material demand. Imported containerised heavy melt scrap (HMS) 1/2 80:20 scrap prices into Taiwan tapered off in the first half of the month, falling $10/t cfr from the start of the month to $325/t on 15 July, Argus data show. Taiwanese steelmakers undergo the annual summer electricity restrictions that typically spans across May-October. To mitigate rising energy costs, local steelmakers typically cut production by 20-30pc, weighing on scrap demand. While imported scrap prices have been steadily rising as a result of the US-Iran war, domestic rebar prices have also risen in tandem to its peak of 18,500 New Taiwan dollars/t in the week of 18-22 May, marking a two-year high. Since late May, bearish demand has pushed rebar prices lower, and the domestic rebar price fell to NT$17,000/t in the week of 13-17 July. Vietnam Imported scrap prices in Vietnam continued to trend lower during 1-15 July, as most mills remained on the sidelines because of sluggish steel demand during the monsoon season. The Argus HMS 1/2 80:20 cfr Vietnam assessment fell by a further $3/t to $377/t cfr over the period. The tradeable level for Japanese H2 also declined by around $5/t to $362-365/t cfr. Vietnamese mills prioritised domestic scrap procurement and adopted a hand-to-mouth purchasing strategy for seaborne material, supported by ample arrivals of previously booked cargoes and lower scrap consumption. Japan Japan's ferrous scrap market softened in the first half of July, tracking the weaker July Kanto export tender, which fell by ¥1,998/t ($12.32/t) to ¥52,508/t fas (free alongside ship). The Argus H2 fob Japan assessment also declined by ¥900/t to ¥52,500/t over the same period. Market participants expect to see further declines in Japanese scrap prices through July as overseas buying interest remains subdued during the rainy season, while domestic scrap consumption eases because of summer maintenance schedules at many electric-arc furnace (EAF) mills. China mainland Chinese domestic scrap prices remained under pressure during the first half of July as steel demand stayed weak on widespread rainy weather and production cuts at some EAF mills because of negative margins. The Argus heavy melt scrap (>6mm, excluding value-added tax) del East China assessment fell by 36 yuan/t ($5.32/t) to Yn2,177/t. The Chinese scrap market began to show signs of stabilising this week as steel prices rebounded, prompting some mills to replenish low inventories. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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