Metals
Overview
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.
Market Coverage
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.
Stay ahead of the Metals market
To be informed of new metals content, sign up to the Argus Metals Newsletter of your choice. Each issue provides key prices, selected news, downloadable insight papers, podcasts, and on-demand videos on your selected metal markets. We offer four tailored newsletters according to your area of interest, covering battery materials, ferrous, non-ferrous, and scrap markets.
Latest metals news
Browse the latest market moving news on the global metals industry.
US' Alcoa, Australia's Equus ink 10-year gas sales deal
US' Alcoa, Australia's Equus ink 10-year gas sales deal
Sydney, 14 August (Argus) — Australian gas developer Equus Energy has signed a binding 10-year gas sales agreement (GSA) with global aluminium producer Alcoa to supply gas from the planned Equus project offshore Western Australia to Alcoa. Equus will provide 50 TJ/d of gas to Alcoa, equivalent to 182PJ over the term of the deal, the company said on 14 August. Alcoa will use the supplies to power its expanding portfolio of Western Australia-based (WA) alumina refineries. In return, Alcoa will provide advance payment of $30mn to complete a front-end engineering design (Feed) study for the Equus project in Western Australia's North West Shelf region. The funding will cover project costs until it reaches a final investment decision (FID), Equus said. It did not specify a timeline for the FID. Equus, which was known as Western Gas until December 2025, completed a pre-Feed study for the Equus project in May, confirming project design of 50 TJ/d of domestic gas, 2mn t/yr of LNG for export markets, and 12,000 b/d of condensate production over a 15-year project life. The project will address a peak day gas supply shortfall in Western Australia and will represent 5pc of the Western Australian domestic gas market upon completion, Equus said. Annual peak day gas demand in Western Australia is set to increase from 2026 by 36pc to 558 TJ/d in 2035 with the winter season recording the highest demand levels, according to the Australian Energy Market Operator's (Aemo) 2025 Western Australian Gas Statement of Opportunities . This is despite an expected decline in overall annual gas consumption over the same period due to increased large-scale wind and solar generation, Aemo said. The deal with Alcoa will fully satisfy Equus' commitments under Western Australia's domestic gas reservation policy, the company said. The reservation policy mandates that Western Australia-based gas producers retain at least 15pc of production for sale in the domestic market over a project's life. Alcoa operates the 30.5mn t/yr bauxite mine and the 4.2mn t/yr Pinjarra and 2.85mn t/yr Wagerup alumina refineries in Western Australia. Alcoa bought most of Australian mining company South32's aluminium supply chain stakes in June, including the 37mn t/yr Worsley bauxite mine and 4.4mn t/yr Worsley alumina refinery in Western Asutralia. Alcoa signed a three-year gas sales agreement with Australian independent Woodside Energy for 31.1PJ in June, which will begin in 2027. The company also secured a 10-year gas sales agreement with LNG operator Chevron in December 2024 for 130PJ, starting from 2028. This has built on Alcoa's existing 10-year gas sales agreements with Chevron, ExxonMobil and Australian independent Warrego Energy for a total of 198PJ of gas to its alumina refineries in Western Australia, starting in 2024. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
2A expanding aluminum die-cast ops in Alabama
2A expanding aluminum die-cast ops in Alabama
Houston, 13 August (Argus) — High-pressure aluminum die-caster 2A USA plans to increase production capacity through a $32mn expansion at its manufacturing facility in Auburn, Alabama. The project will add casting and machining capabilities for "complex and large aluminum components" used in heavy-duty trucks, Alabama governor Kay Ivey said on Wednesday. Neither a construction timeline nor details about how much output would grow were disclosed. 2A USA's plans come as the US has sought to increase domestic manufacturing through trade policies, which have included global import tariffs on both aluminum products and heavy-duty trucks . The White House currently is seeking to tighten minimum US-origin content requirements for products covered under the US-Mexico-Canada free trade agreement, as part of its efforts to renegotiate the pact. The company, which is the North American segment of Italy-based 2A, acquired the Auburn facility in 2014 and has continually invested in its operations there, including a $15mn expansion in 2019. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Nucor to expand downstream Indiana steel plant
Nucor to expand downstream Indiana steel plant
Pittsburgh, 13 August (Argus) — US steelmaker Nucor plans to add steel grating production capabilities at its downstream Vulcraft facility in St Joe, Indiana, broadening its product offerings. The $59mn project marks Nucor's fourth major investment in Indiana in recent years. Vulcraft makes open-web steel joists, joist girders and steel decking, which are used mainly in non-residential construction. The plant has about 1.2mn short tons of annual joist and deck production capacity. By Brad MacAulay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Argentina’s inflation extends gains
Argentina’s inflation extends gains
Montevideo, 13 August (Argus) — Argentina's annual inflation continued to increase in July, hitting 33.8pc, another high for the year and more than three times the government target. The consumer price index (CPI) rose by 33.5pc in June from a year earlier, up from 33.2pc in May, the statistics agency Indec reported. The latest figure was down from 36.6pc in July 2025. Leading the annualized increase was housing/utility, up 48.9pc, while transportation prices were up 40.9pc, education 40pc and entertainment, 36.7pc. Food/beverages increased by 34.5pc. All the leading categories were up compared to the previous month. On a monthly basis, CPI rose by 2.1pc in June, up from 1.9pc and matching the 2.1pc May rate. It peaked at 3.4pc in March for the year. President Javier Milei's administration forecasts inflation at 10pc for the year, while the International Monetary Fund (IMF) forecasts inflation at 30.4pc this year. -By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Explore the latest market insight and analysis from our global metals experts.
Explore our metals products
Explore pricing, analytics and tools that support procurement, risk management and strategic planning across metals markets.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.