Steel
Setting a new standard of market transparency through trusted pricing, steel-related data, news and analysis on global flat and long products.
Overview
Argus provides benchmark pricing and market intelligence across global semi‑finished and finished steel markets- including billet, slab, hot‑rolled coil (HRC), cold‑rolled coil (CRC), hot-dip galvanized (HDG), plate, rebar and more. Leading commodity exchanges such as the London Metal Exchange and Chicago Mercantile Exchange rely on Argus steel benchmarks as the settlement basis for HRC futures in China and Europe, reinforcing Argus’ role as an unbiased and independent provider of global steel price references. Our flagship NW Europe HRC and China HRC benchmarks, in addition to US HRC are widely embedded in physical steel contracts, strengthening price transparency and guiding procurement strategies, helping market participants settle supply contracts. Using indices allows companies to trade material on an index-linked basis, not only via fixed price sales, offering significant advantages when prices are volatile.
Argus delivers global steel coverage with localized insight across major trading regions- including the US, Latin America, Europe, China, Southeast Asia and the Middle East, offering a clear view of steel market drivers, price trends and regional market dynamics through Argus Global Steel. Together with Argus Steelmaking Raw Materials, this provides end-to-end insight across the entire steel supply chain- from upstream inputs through finished steel products. This intelligence is supported by robust trade‑volume datasets and continuous reporting on geopolitics, trade measures and supply demand shifts that influence global steel prices. Our methodology is underpinned by detailed context around the development of the price — including visibility into anonymized transaction volumes, data submissions and observable market trends — giving customers a level of clarity unmatched elsewhere in the market and strengthening confidence in every price assessment.
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Latest steel news
US inflation quickens to 3.7pc in Sept. on energy surge
US inflation quickens to 3.7pc in Sept. on energy surge
Houston, 14 October (Argus) — US inflation accelerated to an annual 3.7pc in September, led by higher energy costs as the Mideast Gulf war intensified. The consumer price index (CPI) rose from 3.4pc in August, according to the Bureau of Labor Statistics (BLS). Headline inflation was last higher at 4.2pc in May and had fallen since then. Analysts surveyed by Trading Economics had forecast a median gain of 3.6pc for September. So-called core inflation, which strips out food and energy, rose by 2.6pc in September, up from 2.4pc. The energy index rose by 20.4pc in September from a year earlier and was up from 16.3pc the prior month. Energy commodities rose by an annual 35.3pc, up from 28pc the prior month, the BLS said. Gasoline rose by an annual 34.2pc, compared with 27.4pc the prior month. On a monthly basis, gasoline rose by 9.1pc in September, accounting for over half of the monthly gain in the headline index, BLS said. Fuel oil rose by 74.2pc in September from a year earlier and was up from 52pc the prior month. Services less energy services, considered a core services measure, rose by 3.1pc, up from 3pc. War-driven rise Inflation has been accelerating since the US-Israeli war on Iran broke out at the end of February, as energy flows through the strait of Hormuz and nearby Red Sea have been constrained. Rising borrowing costs in the US and elsewhere amid accelerating inflation is raising sovereign debt loads to levels that the IMF this week warned poses a threat to global financial market stability. Following the release of the BLS report, the CME FedWatch tool showed a 53.7pc probability the Federal Reserve would hike its target rate by a quarter point at its next meeting on 28 October, up from 22.1pc on Tuesday. Odds of one or two hikes by December were at 96pc Wednesday. The Fed raised its rate by a quarter point at its meeting in September, the first increase since 2023. On a monthly basis, prices rose by 0.6pc in September, up from 0.4pc in August and compared with 0.1pc in July. Core prices rose by a monthly 0.3pc in September, matching the gain in August and up from 0.2pc in July. Electricity rose by an annual 4.4pc in September, up from 3.8pc in August. Piped gas rose by 5pc, up from 4.4pc. New vehicle prices rose by 0.6pc, unchanged from the prior month. The food index rose by an annual 2.5pc, easing from 2.7pc the prior month. Shelter rose by an annual 3.2pc in September, up from 3pc. Transportation services rose by 2.7pc in September, compared with 2.4pc in the prior month. Airfares rose by 22.4pc, easing from 23.4pc. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US steel contract talks favor sellers for 2027
US steel contract talks favor sellers for 2027
Pittsburgh, 13 October (Argus) — US flat-rolled steel mills are using the exceedingly constrained supply environment the industry faces as leverage to shape 2027 contract negotiations on more favorable terms. Mills are looking to optimize contract portfolios for next year by reducing discounts on index-linked deals, capturing full product extras and reducing exposure to customers that struggle to meet obligations or do so inconsistently. During a recent webinar hosted by Argus , attendee responses to survey questions highlighted the more restrictive, higher-priced environment heading into 2027. The survey found that 56pc of respondents anticipated having less contractual volume next year than in 2026. The bulk of respondents, 85pc, said they expect discounts on index-linked deals to be 4pc or lower, with a little over half of them looking for discounts of 3-4pc and a third of respondents expecting 1-2pc. Among the limited number of respondents expecting index-linked contract discounts above 4pc, most capped their expectations at 5pc. This represents a noticeable reduction in discounts associated with index-linked deals compared with historical levels. Mills have historically offered discounts ranging from 6-10pc and, in some cases, even higher. The discount level is often partially contingent on the monthly tonnage and product mix of the contract. However, the discount level on a dollar-per-short ton (st) basis has continued to widen over the past 12 months as the US market has witnessed steel prices rise to the third-highest level in Argus' history. Tariffs blocking out previously competitive imports and robust domestic demand, mostly from data centers and the energy market, have driven the sustained price appreciation. The high-price environment is not expected to waver, according to survey respondents. The survey also found that more than 85pc of respondents expected US hot-rolled coil (HRC) prices would be at or above $1,200/st by January 2027. Within this segment, more than half of respondents, 53pc, expected prices to be $1,201-$1,300/st, while 32pc believed prices would be above $1,300/st at the start of next year. The survey results were collected at the beginning of October, when the US Argus Steel Index HRC price was $1,261.75/st. Price indications from buyers in the following days put prices above that level and encroaching on $1,300/st in some cases. Still, market participants anticipate that the supply situation could begin to loosen in late first-quarter or second-quarter 2027 and are eyeing this period for a potential price correction that could bring more balance to the supply-and-demand landscape. By Aaron May 2027 US flat steel contract expectations Expected index-linked contract discount Share of respondents 1-2pc discount against contract 33pc 3-4pc dicsount against contract 52pc 4-5pc discount against contract 9pc Over 5pc discount against contract 6pc Expected HRC price by January 2027 Below $1,100/st 6pc $1,100-$1,200/st 9pc $1,201-$1,300/st 53pc Above $1,300/st 32pc Data compiled from webinar survey participants Argus US Flat-Rolled Contract Negotiations Webinar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US sets AD margins for 2 Turkish rebar firms
US sets AD margins for 2 Turkish rebar firms
Houston, 6 October (Argus) — The US Department of Commerce has preliminarily applied a 13.11pc antidumping (AD) duty margin for Turkish rebar producers Colakoglu and Ekinciler following its review of imports in the year through June 2025. Commerce individually examined Colakoglu and assigned the same AD margin to Ekinciler, which was not individually reviewed. Commerce also rescinded the review for Turkish producers Habas, Icdas and Kaptan after finding no reviewable suspended entries during the review period. The preliminary margin is below the 18.87pc AD duty assigned to Colakoglu in the final results of a previous review covering July 2023 through June 2024. Turkish rebar exporters without company-specific rates are currently subject to a 3.9pc AD rate that was established in a January 2022 amended final determination. By Matt Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iowa passes tax incentives for steel mill
Iowa passes tax incentives for steel mill
Pittsburgh, 5 October (Argus) — Iowa has amended its economic development program to provide tax incentives for Minnesota-based iron ore miner Mesabi Metallics to build a $15bn steel mill, the governor's office said last week. The program, called the Major Economic Growth Attraction, was designed to help the state compete for $1bn-plus developments. The original tax scheme created incentives of up to 5pc each for two eligible businesses a parent company planned to start, but the new language passed into law late last week now allows incentives of up to 10pc for a single qualifying investment if it is in a rural county. The incentives under the law are spread out evenly over 10 years and are transferable. Mesabi Metallics' proposed 10mn short tons (st)/yr electric arc furnace qualifies qualifies for the higher incentives under the new law because it will be built in a rural part of southeastern Iowa. US commerce secretary Howard Lutnick previously said Mesabi Metallics' investment was not dependent on local tax breaks at a 28 September White House press conference touting the plan. Iowa state house speaker Pat Grassley said any incentives for the mill construction will not be granted until the facility is actually operational. The mill is slated for completion by 2030 and will rely on iron ore from the company's mine in Nashwauk, Minnesota. By Aaron May Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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