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
BHP trials Australian tallow biodiesel for biobunkering
BHP trials Australian tallow biodiesel for biobunkering
Sydney, 4 June (Argus) — Australian tallow-based biodiesel was blended in Singapore for the first time and used onboard a bulk carrier, as part of Australian mining group BHP's pilot program aimed at reducing maritime emissions. Mining giant BHP trialled the fuel in May, using a 100pc biodiesel blend comprising 50pc Australian-origin tallow methyl ester (TME) and 50pc used cooking oil methyl ester (Ucome), the firm said on 3 June. The blend is expected to deliver around a 79pc reduction in lifecycle greenhouse gas (GHG) emissions per voyage compared with conventional very low-sulphur fuel oil. The biodiesel was used onboard the Berge Lyngor , an iron ore carrier that departed Port Hedland, Western Australia, for China on 17 May and partially discharged its cargo on 31 May, according to Kpler data. Around 500t of TME was sourced from producer Just Biodiesel's 60mn litre/yr plant on the New South Wales–Victoria border and exported to Singapore's bunkering hub in approximately 25 isotanks by biofuel supplier HAMR Energy, Just Biodiesel told Argus today. Japanese trading firm Mitsui's Singapore energy trading arm supplied the Ucome component and carried out blending. The project was co-funded by the Maritime and Port Authority of Singapore under the Maritime Innovation and Technology Fund. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Coal gasification push in Indian steel faces hurdles
Coal gasification push in Indian steel faces hurdles
Mumbai, 3 June (Argus) — Coal gasification may help Indian steelmakers reduce dependence on imported fuels, but its commercial viability depends on how effectively the industry addresses cost, coal quality and technological constraints, industry experts said. The process has seen increased traction in recent months as India looks to reduce dependence on imported natural gas, ammonia and other products following the US-Iran war that disrupted trade flows from the Mideast Gulf. The Indian government in May approved a 375bn rupee ($3.9bn) incentive package to accelerate coal gasification projects, under which financial support of up to 20pc of plant and machinery costs will be provided. Coal gasification converts coal to synthesis gas, or syngas, which in turn can be used to produce fuels and chemicals domestically. Scaling up the process would enable India to use its abundant domestic coal reserves — estimated at about 401bn t — to secure energy supply for major industries. There are different pathways to use syngas in the steel sector, one of which is the production of direct-reduced iron (DRI) — a key feedstock for steelmaking. Indian producer Jindal Steel's nearly 2mn t/yr Angul facility, which was commissioned in 2014, is the first commercial plant globally to use coal gasification-derived syngas for DRI production and is the only such plant operating at a commercial scale in India. The company also started using syngas at its steel galvanizing and colour coating units earlier this year to offset natural gas and propane shortages. Over time, coal gasification is expected to reduce reliance on imported metallurgical coal by enabling syngas-based DRI production, thereby lowering dependence on coke-intensive blast furnaces. However, industry participants told Argus that fully substituting metallurgical coal remains challenging. Jindal has also introduced syngas into its blast furnace — something which will help the company cut down on the use of pulverized coal injection (PCI), Jindal Steel's sustainability and decarbonization head Naveen Ahlawat said at a coal ministry roadshow on 28 May. "We have a very strong view that it will reduce our PCI consumption by 20-30pc as we move forward," Ahlawat said. Big investments, slow progress But coal gasification projects require hefty upfront capital investments and significant water consumption. Additionally, Indian domestic coal has 30-45pc ash content, making it less suitable for gasification using imported technologies. This underscores the need to set up coal washeries and to scale up indigenous technologies better tailored to domestic coal. Government documents show other gasification projects are yet to take off, with Talcher Fertilizers' plant in eastern India's Odisha state facing delays in construction. The plant plans to use coal gasification to produce 1.27mn t/yr of urea. "We need to develop a business model for coal gasification, by aligning plant location, detailed feedstock assessment, gasification technology, and downstream product mix," gasification and decarbonisation expert Gaurav Verma told Argus. A technically and commercially viable model can then serve as a "template" for accelerating gasification projects while reducing development risks, Verma added. The green steel question The emissions intensity of DRI produced in coal-based rotary kilns and syngas-based DRI is very similar, the steel ministry noted in its green steel roadmap. Lowering the emissions intensity of coal gasification-based DRI will require carbon capture and storage units (CCUS) for CO₂ generated during the process, increasing costs for steelmakers. For projects which have a CCUS component, companies can approach the ministry of power for additional support under the CCUS scheme announced in the latest union budget , secretary of the coal ministry, Vikram Dev Dutt, said during the roadshow. Still, industry experts believe that coal gasification does not indicate a detour from steel decarbonization but serves as a stepping stone to advanced technologies such as green hydrogen, which are currently at a nascent stage. "Coal gasification is a transitional industrial strategy for resource-rich economies like India, where steel demand is growing rapidly while dependence on imported coking coal and LNG remains structurally high," mining and steel sector expert Hridaya Mohan said. "The objective is not to delay decarbonisation, but to create a practical bridge between today's resource realities and tomorrow's low-carbon steelmaking technologies," Mohan added. By Amruta Khandekar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil renews quota policy for import steel
Brazil renews quota policy for import steel
Sao Paulo, 29 May (Argus) — Brazil will extend its steel import quota regime for another 12 months from June, the foreign trade chamber Camex's executive management committee (Gecex) said on 28 May. Steel imports within the quota threshold will remain subject to reduced 10-16pc tariffs, while a 25pc duty applies to volumes exceeding the quota. The quotas cover 19 steel products across flat, long and tubular steel segments, regardless of origin. The foreign trade authority assigned individual quota volumes for each product based on historical import levels. Gecex will also increase quota volumes for four coated flat steel products by 15pc, it said. The adjustment aims to avoid double protection, as the products became subject to antidumping duties in February 2026. Brazil imposed AD duties on imports of cold-rolled coil (CRC), hot-dipped galvanized (HDG) and other coated steel products from China earlier this year. Quota allocations will renew every four months through June 2027. Importers will be able to access lower tariffs on around 540,000 metric tonnes (t) of steel during each of the three periods. Steelmakers' association Instituto Aco Brasil requested that Gecex raise import tariffs to 35pc, which is the country's highest rate at the World Trade Organization (WTO). The group also proposed to eliminate the current quota system so the higher duty would apply to all imports. Gecex ultimately rejected the proposals, citing concerns that the measure could increase costs for downstream manufacturing sectors that consume steel products. The Brazilian quota regime was introduced in 2024 to curb rising steel imports and will now remain in effect for a third consecutive year. By Isabel Filgueiras Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's BHP iron ore port workers set to strike
Australia's BHP iron ore port workers set to strike
Sydney, 29 May (Argus) — Electrical workers at global mining firm BHP's iron ore port operations in the Pilbara region of Western Australia (WA) plan to strike as early as June if a ballot of union members authorises protected industrial action. Electrical Trades Union (ETU) members working at Port Hedland are planning to hold strike action after six months of failed negotiations with BHP, the union said on 29 May. BHP has made contingency plans to ensure operations can continue safely and reliably if a strike goes ahead at the port, a spokesperson told Argus . The ETU has lodged an application for a protected action ballot order with Australia's national workplace relations tribunal, the Fair Work Commission (FWC), which would authorise the union's 200 port staff members to legally strike. BHP is negotiating a new enterprise agreement for its port operations team, which will cover a total of about 450 port employees, excluding contractors, Argus understands. Port Hedland is the world's largest bulk iron ore export port and is a key export hub in BHP's WA iron ore supply chain. The firm produced 257mn t of iron ore in the fiscal year ended 30 June 2025. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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