Critical Materials and Minor Metals
Independent pricing, news, and analysis across critical materials and minor metals markets, including hafnium, titanium, tungsten, tantalum, gallium, and other key strategic metals.
Overview
Argus provides independent pricing and market intelligence across the minor metals sector, supporting customers in markets where transparency is limited, liquidity varies widely, and supply is closely tied to byproduct production from major metals. Many of these materials also fall under the critical raw material frameworks in many countries, increasing sensitivity to policy changes, trade restrictions, and supply chain risk. For decades, Argus has been a trusted resource for companies looking for a reliable data source for pricing of critical materials outside of China.
Our coverage spans key metals including cobalt, tantalum, hafnium, titanium, tungsten, vanadium, molybdenum, gallium, germanium, indium, selenium, tellurium, magnesium, manganese, bismuth, and antimony and more, providing insight into spot price trends, regional dynamics, and technology-driven demand shifts. With a global team of market analysts across major producing and consuming regions, Argus delivers the independent perspective needed to support procurement planning, risk management, and strategic decision making in these opaque and highly politicized markets.
Argus’ critical materials and minor metals coverage is delivered through our global products, including Argus Non-Ferrous Markets, Argus Battery Materials, Argus Tungsten Analytics and Argus Rare Earths Analytics Service, giving customers a comprehensive view across specialty, technology, and critical metals markets.
Manufacturers dependent on engineered materials have additional challenges in determining the impact of critical metals on the cost of alloys they buy. Argus further supports clients with the Argus Alloy Calculator, enabling fast alloy should-cost analysis and synthetic indicative price generation to provide material value in the absence of traditional spot market assessments.
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Browse the latest market moving news on the specialty and minor metals industry.
Antofagasta Jan-Sep Cu output falls despite 3Q recovery
Antofagasta Jan-Sep Cu output falls despite 3Q recovery
London, 15 October (Argus) — Chile-based copper producer Antofagasta reported lower copper and molybdenum production in the first nine months of the year, but third-quarter copper output recovered from the previous quarter on stronger performance at its Los Pelambres mine. Copper production totalled 436,900t in January-September, down by 8.3pc on the year. The decline was driven by lower-ore grades at Centinela Concentrates and lower recoveries at Centinela Cathodes. Third-quarter copper production rose by 7pc from the previous quarter to 151,900t, supported by higher output at Los Pelambres following the drawdown of inventories accumulated in the second quarter. Los Pelambres increased production by 17.5pc on the quarter to 79,300t, offsetting weaker performance elsewhere in Antofagasta's portfolio. Copper grades and throughput at Los Pelambres are expected to increase in the fourth quarter, the company said. Antofagasta maintained its 2026 copper production guidance of 625,000-655,000t and issued 2027 guidance of 630,000-690,000t, reflecting expectations of higher grades at Los Pelambres, but partially offset by lower grades at Centinela Concentrates. Molybdenum By-product molybdenum production fell more sharply than copper output, dropping by 21.1pc on the year to 9,000t in the first nine months of 2026. The company attributed the decline primarily to lower molybdenum grades at Los Pelambres, where January-September molybdenum production fell by 23.9pc to 6,700t. Third-quarter molybdenum production declined by 6.5pc from the previous quarter to 2,900t because lower recoveries and grades at Los Pelambres outweighed improved grades and recoveries at Centinela Concentrates. By Roxana Lazar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan to invest $21bn in GF for 2 new US facilities
Japan to invest $21bn in GF for 2 new US facilities
Houston, 14 October (Argus) — Japan plans to invest up to a total of $21bn toward US-based GlobalFoundries (GF) to build and operate two new semiconductor manufacturing facilities (fabs) in Malta, New York, the company said today. GF expects the two fabs to each have a production capacity of 900,000 300mm wafers/yr. The first fab is expected to come on line in 2029, the company said. In addition to the new fabs, the US Department of Commerce will also reallocate $955mn of GF's current CHIPS and Science Act award towards its existing facilities in Malta, New York, and Burlington, Vermont, for advancing its silicon photonics, silicon germanium (SiGe) and advanced packaging capabilities. GF said in May it would expand its SiGe capacity to meet accelerating demand for optical networking in data centers, as capacity at its Vermont fabrication plant was oversubscribed. In an additional agreement, Commerce will receive a 4pc equity stake in GF, worth over $2bn, US president Donald Trump said in a social media post on Wednesday. By Reagan Patrowicz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Solar, Bess tax breaks clear Mexico's lower house
Solar, Bess tax breaks clear Mexico's lower house
Mexico City, 14 October (Argus) — Legislation to accelerate recovery of start-up capital for solar power and battery energy storage passed Mexico's lower house on Wednesday, clearing a final article-by-article review in a 322-115 floor vote. The clean energy incentives — structured as accelerated depreciation rules under the federal income tax law (Lisr) — advance as a core element of the 2027 revenue package. The initiative now heads to the senate for ratification, which is expected to conclude well before the chamber's 31 October legal deadline to pass the revenue side of next year's budget. If approved, the new rules will take effect on 1 January 2027. The tax reform proposal specifically aims to modify the federal income tax law, as part of an overhaul to Mexico's simplified tax framework (Resico). It establishes that eligible companies may double their annual tax depreciation rate on physical equipment and infrastructure to 40pc from 20pc. The provision could cut capex recovery times in half, typically to 2.5 years from 5 years, for small- and mid-sized solar and backup energy developers. However, industry analysts point out a significant trade-off that limits the reform's broader impact. As the incentive is strictly tethered to the Resico framework, it is bound by the regime's updated annual gross revenue cap of Ps50mn ($2.6mn). Renewable energy advocates argue the cap is too low and sets up a mixed outcome for the industry . While it stimulates small-scale distributed generation and commercial rooftop installations, utility-scale developers are largely excluded from the tax break. Under the new Lisr, amortization is now limited to 50pc of taxable profit for these companies, a limit analysts argue creates a baseline annual tax cash drain regardless of cumulative development capex. Furthermore, companies exceeding the revenue cap will now be restricted from fully utilizing the standalone 100pc immediate renewable asset deduction established under article 34 of the income tax statute. Financing costs for capital-intensive generation networks also face adjustment, as the legislation lowers the threshold for net-interest deductions on corporate project debt to 20pc from 30pc of adjusted taxable income. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Chile's lithium exports inch up in September
Chile's lithium exports inch up in September
Sao Paulo, 14 October (Argus) — Chilean lithium exports increased in September from the same period last year, as global feedstock availability concerns eased. Chilean producers SQM and Albemarle exported a combined 19,840 metric tonnes (t) of lithium salts in September, including carbonate, hydroxide and chloride. That is an 8.1pc increase from around 18,340t a year earlier, highlighting Chile's contract-based and stable lithium industry. China remained the main destination for Chilean lithium, importing 67.5pc, or 13,460t, of total volumes. South Korea was second with 17pc, while Japan and the US were tied for third place at 3.5pc and 3.4pc, respectively. September was a largely standard month for Chile's lithium industry. As supply tightness faded worldwide with Zimbabwe returning to the market and Chinese imports normalizing, the country's monthly exports also returned to normal after reaching record-highs in the first half of the year. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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