Argus Non-Ferrous Markets

Independent price assessments, expert analysis and market intelligence across global base metals, minor metals, ferro-alloys and rare earths markets.

Overview

Argus Non-Ferrous Markets is a price reporting service that delivers independent price assessments, expert market commentary and news across the global markets in base metals, minor metals, ferro-alloys and rare earths. The service covers physical market prices, average price indexes and forward assessments across key geographies, published at frequencies aligned to market liquidity.

At a glance

Base metals, minor metals, ferro-alloys and rare earths coverage.
Physical spot prices, month-to-date and final-month indexes.
Benchmarks used in contracts and commercial agreements.
Supports procurement, hedging and trading decisions.
Delivered via portal, data feed, API and daily PDF.
Expert news and commentary on global market developments.

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Key features

Independent Price Assessments

Trusted benchmarks used in contracts to ensure fair, transparent pricing in opaque markets.

Exchange Data and Base Metals Premiums

A unified view of futures markets and physical premiums for accurate valuation and negotiation.

Expert Market Commentary and News

In-depth analysis of price drivers, supply-demand trends, and geopolitical risks, and the latest breaking news.

Supply Chain Intelligence

Insights into mining capacity, refining capabilities, trade flows and emerging sources.

Risk Management Tools

Contextual data to support smarter procurement, hedging strategies, and long-term planning.

Unrivalled Methodology

Transparent and credible methodology developed with the industry to ensure our price assessments are a true reflection of how the markets trade.

Who uses this service

Argus Non-Ferrous Markets is relied on by organisations across the metals value chain that require reliable price data, independent benchmarks and expert intelligence to support commercial decisions.

Mining Companies
Mining companies use Argus independent price assessments to anchor sales contracts to trusted, market-based benchmarks, ensuring pricing transparency and reducing disputes. This supports stronger buyer relationships and more predictable revenue in volatile markets.
Non-ferrous Metal Producers/Refiners
Non-ferrous metal producers benefit from using Argus assessments in their long-terms sales contracts to ensure pricing reflects independent, market-aligned benchmarks that build trust with important buyers. On the buy side, price assessments support consistent cost structures and reduce exposure to pricing inequities or volatility and aid in margin preservation.
Traders
Traders rely on Argus’ impartial pricing and insights to identify arbitrage opportunities, and to manage risk and time trades effectively. Real-time data and expert analysis highlight trends and disruptions, while trusted indexes enhance transparency and reduce the likelihood of disputes in trade deals.

Manufacturers
Manufacturers sourcing strategic metals from a limited pool of global suppliers face significant exposure to price volatility. By linking supply contracts to Argus independent price assessments, they gain a transparent, market-based pricing reference that helps stabilise procurement costs, reduce negotiation uncertainty, and protect against sudden and difficult-to-justify price swings in opaque and highly concentrated markets.
Magnet Manufacturers
Magnet manufacturers in North America and Europe index to the Argus Non-Ferrous Markets service's assessment to ensure a reliable supply of rare earth metals from overseas.

Frequently Asked Questions

Base metals coverage

Copper, aluminum, nickel, zinc, and lead are foundational to global infrastructure, energy storage, transportation and industrial manufacturing. Argus Non-Ferrous Markets provides comprehensive coverage and pricing across the global base metals markets, combining:

Data from the London Metal Exchange (LME), Chicago Mercantile Exchange (CME) and Shanghai Futures Exchange (SHFE) with real-time options available
Independent regional premium assessments from Argus
Expert commentary on supply-demand dynamics, macroeconomic trends, and geopolitical influences
Daily coverage of the futures markets with commentary at market close

This complete service ensures stakeholders have a fully formed view of pricing mechanisms, helping them manage physical procurement in the spot market, hedge risk and negotiate long-term supply contracts with confidence.

Key base metal price assessments

Aluminum P1020, and 6063 premiums for the main trading regions, 6061 premium in the US
Copper cathode premiums for the main trading regions, refining and treatment charges
Nickel cathode, briquette and full pate premiums for the main trading regions
Lead, zinc and tin premiums

Rare earth elements coverage

Materials like neodymium, praseodymium, dysprosium and terbium are critical for permanent magnets, electric vehicle motors, wind turbines, and defence technologies – and efforts are under way to diversify supply away from China. Meanwhile, a host of other REEs – from gadolinium to yttrium, erbium to samarium – remain vital building blocks for a host of essential industries around the world. Argus delivers:

Price assessments across major markets, including China and emerging alternative producers and refiners
Policy impact analysis, including export controls and tariffs and how these will impact global pricing
Supply chain intelligence on rare earths mining, separation and refining capabilities

Rare earth price assessments

Assessments of 17 rare earths elements to cover full scope of applications beyond just magnets
Magnet alloy prices
Rare earth prices for various stages of refinement – oxides, metals and carbonate
Rare earth prices in western markets for optionality outside of China

Technology metals: minor and specialty metals coverage

Technology metals such as tantalum, gallium, germanium, antimony, indium, bismuth and high-purity silicon are essential in the production of semiconductors, advanced electronics and solar panels. These materials play a critical role in enabling innovation across sectors including telecommunications, electric vehicles, data centers, and clean energy infrastructure.

Argus provides:

Benchmark pricing across various grades of material for various applications as well as upstream and downstream forms of metals
Coverage of strategic supply chains, including Chinese production and western diversification efforts
Insight into tariffs, export controls and trade policy impacts
Analysis of demand trends driven by digitalisation, electrification and decarbonisation

As global reliance on these irreplaceable materials intensifies, Argus helps companies manage cost exposure, supply risk, and plan for long-term growth in high-tech industries.

Technology metals price assessments

Calcium-silicon, ferro-silicon and a variety of metallurgical-grade silicon variants
Antimony prices for concentrate, ingot and trioxide
Gallium, germanium, indium and tellurium prices

Minor and specialty metals price assessments

Cobalt prices for alloying
Chrome ore, charge chrome, ferro-chrome and aluminothermic chrome prices
Zirconium and hafnium pricing, including US hafnium prices
Magnesium alloy, high-purity magnesium and magnesium powder
Manganese ore, briquette, dioxide, flake, lump, sulphate, silico-manganese, ferro-manganese and electrolytic metal
Molybdenum concentrate, oxide, ingot, ferro-molybdenum and vacuum grade
Rhenium, selenium, tantalum, tungsten, vanadium and niobium pricing
Titanium prices for the full value chain from sponge to TiO2 across main trading regions

Light and high-temperature metals pricing coverage

Argus tracks market dynamics and prices for metals critical to aerospace engineering, including:

Light metals such as aluminium, titanium and magnesium, valued for their strength-to-weight ratio in aircraft structures and satellite components.
High-temperature metals such as tungsten, cobalt, molybdenum, niobium and hafnium, used in jet engines, rocket nozzles and thermal shielding.
Superalloys such as Inconels and aerospace grade aluminum alloys

The Argus Alloy calculator also allows Argus clients to develop customised ‘should-cost’ models for any alloyed material they buy using intrinsic value calculations if there is not an available assessment from Argus.

Accurate market intelligence is essential for procurement and planning as aerospace applications expand and demand for highly engineered materials intensifies. Argus helps manufacturers detect risks to supply and manage cost pressures in these high-performance material markets.

Mineral sands pricing

Monazite
Rutile
Zircon

Ferroalloy costs for steelmakers and manufacturers

Including ferromolybdenum, ferrovanadium, ferrochrome and silicon manganese, these alloys are essential for steelmaking and alloyed materials. Argus offers:

Spot and contract pricing assessments across a wide range of ferroalloys in various regions
Global stainless prices, including stainless surcharges
Global demand analysis and the impact on pricing
Production and capacity tracking across major supply regions

Key price assessments

Argus Non-Ferrous Markets publishes price assessments across base metals, minor metals, ferro-alloys and rare earths. Assessments serve as benchmarks in physical supply contracts, enabling transparent and reliable commercial pricing across global non-ferrous markets.

Argus Antimony

Antimony is a key raw material for technology and energy transition applications and its concentrated production in China introduces risks for countries in Europe and the US who rely entirely on imports.