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Argus’ comprehensive coverage of the global ferrous markets provide independent price assessments, news and market analysis for iron ore, coking coal, ferrous scrap, pig iron and steel.
Our global team of experts in China, Singapore, the UK and US deliver over 300 domestic and seaborne price assessments along with detailed market commentary on a daily basis to ensure our clients have complete mine to mill price coverage.
The ferrous portfolio includes established Argus price indices for 62pc and 65pc iron ore fines, Turkish ferrous scrap imports, and our fob Australia and cfr China premium hard coking coal indices.
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Record high prices pressure Chinese aluminium demand
Record high prices pressure Chinese aluminium demand
Shanghai, 13 January (Argus) — Chinese aluminium prices hit a record high of 25,075 yuan/t ($3,592/t) today, driven by tight supply and buoyant market sentiment on the back of the geopolitical environment and strong copper prices, despite a slowdown in domestic demand. The rising prices have significantly dampened buying interest among Chinese fabricators, while social inventories continue to increase. The most-traded March aluminium contract on the Shanghai Futures Exchange (SHFE) reached 25,075 yuan/t ($3,594/t) and closed at Yn24,375/t today, up by 6.3pc from 31 December 2025. Global aluminium supply growth has slowed because Chinese output is approaching its annual capacity cap of 45mn t, and European production has declined due to challenges in securing affordable power contracts. On the demand side, market participants expect sectors such as new energy vehicles, photovoltaics, and artificial intelligence (AI) to continue supporting long-term aluminium consumption. These factors have helped sustain aluminium prices at high levels throughout 2025. Recent surges in copper prices have also encouraged financial investors to enter aluminium contracts in anticipation of substitution effects, providing further support to the aluminium market. London Metal Exchange (LME) copper prices exceeded $13,000/t to hit a fresh record on 6 January, because investors sought safe-haven assets on the back of US military action in Venezuela. Aluminium can replace copper in certain applications, such as air-conditioner manufacturing. When the copper-aluminium price ratio exceeds 3.5–4 — the ratio is currently 4.2 — substituting aluminium for copper offers significant economic advantages, according to market participants. Slowing Chinese demand The Chinese aluminium industry has been in a seasonal lull since November 2025, with fabricators maintaining limited purchasing activity. The recent price surge has further exacerbated this trend. Many fabricators, particularly in the construction sector, are delaying raw material purchases due to high costs, a trader told Argus . Some producers of aluminium alloy doors and windows have raised finished product prices, while others are considering an earlier start to the lunar new year holiday on 16-23 February, another trader added. Social inventories of aluminium ingots in China rose to 714,000t on 8 January, up from 645,000t on 30 December 2025 and 596,000t on 27 November 2025, reflecting ample supply and weak spot demand. Traders expect stocks to continue growing in January and February, given elevated prices and muted buying interest during the seasonal low period. More companies are accelerating a shift toward magnesium in response to rising aluminium costs. Magnesium is used in battery casings, brackets, wheel hubs, and car seat frames. Magnesium's density is only two-thirds that of aluminium, offering significant weight reduction advantages for automotive applications. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Vietnam's ferrous scrap imports rise in 2025
Vietnam's ferrous scrap imports rise in 2025
Shanghai, 13 January (Argus) — Vietnam's ferrous scrap imports surged to a more than four-year high in December, supported by active year-end restocking demand. The country imported 684,000t of ferrous scrap in December, up by 59pc from November and by 14pc year on year, Vietnam Customs data show. Scrap imports totalled 6.25mn t in 2025, marking a 27pc increase from 2024 and only slightly below the levels recorded in 2020-21. Japanese material continued to dominate Vietnam's scrap imports, accounting for more than half of total arrivals. Vietnamese mills imported 3.3mn t of scrap from Japan in 2025, up by 26pc from the previous year. Japanese sellers are expected to continue prioritising the Vietnamese market, supported by the country's expanding steelmaking capacity and construction demand. Imports from the US rose sharply on the year, increasing by 56pc to 788,000t. The growth was partly driven by a low base in the previous year, as well as mid-year buying of deep-sea bulk scrap by some Vietnamese mills. Demand for containerised US scrap also increased, given that smaller mills favoured flexible, smaller-lot cargoes to bridge gaps in domestic supply. Scrap imports from Singapore tripled on the year to 239,000t, reflecting Vietnamese mills' efforts to diversify supply sources in order to manage purchasing costs and ensure supply stability. Hong Kong was the only major supplier to record a year-on-year decline in 2025, with imports falling by 33pc on the year to 374,000t. Ferrous scrap exports from Hong Kong retreated during the year, as exporters diverted more volumes to Bangladesh and India, where prices were more workable. Vietnamese mills' scrap consumption is expected to grow further in 2026. Vietnam's economy maintained strong momentum in 2025 despite pressure from US tariffs, with GDP expanding by 8pc. Continued government investment in infrastructure and public housing, rising industrial activity, and sustained inflows of foreign investment will provide further support for steel production and scrap demand in 2026. Vietnam ferrous scrap imports t Dec '25 m-o-m ± % y-o-y ± % Jan-Dec '25 y-o-y ± % Japan 327,892 61 -8.5 3,295,631 26.3 US 98,725 139.5 109.4 788,146 55.6 Australia 64,942 140.5 96.3 369,525 8.7 Hong Kong 46,470 158.1 13.3 374,373 -32.7 Others 145,825 4.2 19 1,426,781 52.9 Total 683,854 59.1 13.6 6,254,456 26.5 Source: Vietnam Customs Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s Abbot Point coal port to start post-cyclone
Australia’s Abbot Point coal port to start post-cyclone
Sydney, 12 January (Argus) — The Abbot Point coal port in northern Queensland — Australia's main coking coal-producing region — will resume normal operations on 13 January, following a week of weather-related disruptions. The coal export hub was undamaged by Tropical Cyclone Koji, an Abbot Point Operations spokesperson told Argus on 12 January. Cyclone Koji made landfall in Queensland on 11 January, flooding parts of the state. It hovered off the Australian coast over the previous week, limiting vessel movements. Panamanian-flagged NSU Newstar is scheduled to depart Abbot Point on 14 January, data from Maritime Safety Queensland show. No ships have left the port since 8 January, when the Japanese-flagged Double Delight departed with 46,033t of coal, data from marine tracker Kpler show. Most vessels at Abbot Point's anchorages left on 10 January before returning on 11 January, Maritime Safety Queensland data indicate. Abbot Point Port is the smallest of Queensland's three northern coal ports. It handled 31mn t of coal in January-November 2025, accounting for about 27pc of the region's coal shipments. Queensland's larger northern ports have also faced disruptions over the last week. The Dalrymple Bay Coal Terminal stopped berthing vessels on 6 January because of weather issues and has yet to resume operations. Weather-related disruptions haver also affected Queensland's rail and road links over the past week. The Mount Isa rail line — which primarily supports fertiliser, copper, and zinc movements — remains closed because of flood damage, Queensland Rail told Argus . By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Floods disrupt Australian Cu, fertiliser exports
Floods disrupt Australian Cu, fertiliser exports
Sydney, 12 January (Argus) — Severe flooding in Queensland has crippled key transport routes, halting copper, zinc, and fertiliser exports from one of Australia's major mining hubs. Australia's Mount Isa rail line — which supports the transport of fertiliser, copper, and zinc — remains closed due to weather-related damaged following multiple floods in late December and January. Water levels along the line are slowly receding, and major recovery works are underway, Queensland Rail told Argus on 12 January. The operator first closed parts of the Mount Isa line on 29 December because of heavy rainfall. Weather-related road and rail disruptions have impacted global producer Glencore's ability to move copper concentrate to its Mount Isa smelter by road and rail, a spokesperson told Argus . The Mount Isa line has faced disruptions before. Three locomotives and a wagon carrying copper and zinc from Glencore's Mount Isa operations derailed on 5 December 2025, triggering a three-day shutdown. Queensland Rail also closed the line for 11 days in February 2025 due to severe flood-related damage following weeks of heavy rain. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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