Steel raw materials
Complete mine-to-mill steel raw materials coverage featuring daily pricing, forecasts, news and expert analysis.
Overview
Argus provides comprehensive and independent coverage of global steelmaking raw materials markets, delivering trusted price assessments, market intelligence and analysis across iron ore, coking coal, pig iron and other critical inputs used in blast‑furnace and electric‑arc‑furnace production, supporting cost visibility and stronger insight across the steel production process.
Argus provides steelmakers, miners and traders with robust visibility into raw material cost formation across the steel production lifecycle. Daily assessments and analysis capture supply fundamentals, international trade flows, mill buying patterns as reflected in physical transactions, tenders and spot market activity, and the key pricing drivers influencing iron ore, metallurgical coal and ferrous feedstocks. This is supported by a broad set of proprietary datasets, including iron ore shipment tracking, mine project intelligence, and Asia‑Pacific coking coal and PCI deal coverage, enabling clearer insight into upstream supply conditions that shape steelmaking costs and margins.
As part of the Argus Steelmaking Raw Materials service, all benchmark prices and supplementary datasets are integrated to give clients a cohesive, end‑to‑end view of raw material markets. The service includes a suite of established benchmark indices relied upon by miners, steel mills, traders and financial participants. Key assessments include the ICX 62% Fe and ICX 61% Fe iron ore indices, the Argus Asia‑Pacific Coking Coal benchmark and the US Coking Coal price assessments—core reference points used for physical contracting, indexation and risk management across global metallurgical coal and iron ore markets. These benchmarks are complemented by Argus pricing for international ferrous scrap (available in Argus Scrap Markets), pig iron, green steel production cost calculations, and the Argus Steelmaking Raw Materials Outlook helping support strategic sourcing, hedging strategies and cost‑modeling across the global ferrous industry.
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Australia’s BRE achieves first output at RE pilot plant
Australia’s BRE achieves first output at RE pilot plant
Sydney, 8 September (Argus) — Australia-based developer Brazilian Rare Earths (BRE) has produced its first rare earth concentrate at its stage one pilot facility in Camacari, located in Brazil's northeastern Bahia state. BRE produced the concentrate at the newly commissioned the beneficiation circuit of its refinery using feedstock from its planned Monte Alto mine in Bahia, which it is still developing, the company said on 8 September. The company plans to commission its stage two hydrometallurgical plant by April-June 2027 to produce separated neodymium-praseodymium (NdPr) oxide, as well as heavy rare earth concentrate and uranium yellowcake. BRE will also use the plant to test the recovery of scandium, niobium, titanium, and tantalum as potential co-products. The company has secured 6.4mn Brazilian reals ($1.25mn) in funding for the stage two plant from the Brazilian national industrial research hub Senai Cimatec, which will cover 59pc of the project's capital and operational expenditure. The company will also receive technical and engineering support for the pilot plant from French rare earth refiner Carester, who is BRE's heavy rare earth offtake partner. BRE and Carester in October 2025 signed a 10-year offtake deal for heavy rare earth concentrate sufficient for Carester to produce 150 t/yr of separated dysprosium and terbium oxide at its Caremag refinery in Lacq, France . BRE released an integrated scoping study for both the Monte Alto mine and the Camacari refinery in August. The study plans for first production in 2031 and outlines average production over a 14-year mine life of 5,276 t/yr of NdPr oxide and 2,253 t/yr of heavy rare earth concentrate, containing dysprosium, terbium, samarium, gadolinium, and yttrium ( see table ). The company is now undertaking a pre-feasibility study (PFS) for Monte Alto. Separately, the company is continuing exploration at its Sulista rare earths project in Bahia. Sulista was not included in the scoping study or ongoing PFS. By Daniel Gage-Brown Planned production at Camacari t/yr 2031-2035 Life of mine average Light Neodymium-praseodymium 6,351 5,276 Middle and heavy Dysprosium 229 207 Terbium 45 40 Samarium 565 485 Gadolinium 360 319 Yttrium 1,060 989 Total* 2,502 2,253 Note: Total includes unlisted rare earth oxides - Brazilian Rare Earths Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Turkish scrap-rebar margins climb
Turkish scrap-rebar margins climb
London, 4 September (Argus) — Turkish steelmakers' feedstock-finished product margins have grown in recent weeks on the back of firming rebar prices and relatively stable scrap purchasing. While demand in the domestic construction sector has been increasing seasonally, mills have been more measured in their scrap purchasing while also not rushing to lift availability of thinner rebar dimensions that have been in shortage in some areas. So together with ample cargo availability, scrap import prices have remained relatively stable over the past several weeks, while buyers have accepted successive hikes on rebar. But demand for scrap has been increasing and mills are focusing on completing their books for October shipment. Recent US-origin sales activity saw an uptick in scrap prices, which now sit at $380/t cfr, but that increase has been far outpaced by rises in Turkey's domestic rebar market. Scrap prices floated around $375/t cfr since the second half of July before this week's $5/t increase. During that time, domestic rebar prices have climbed $30/t to sit above $600/t for the first time since April. Mills' margins have typically been tight in recent years, but stable feedstock pricing and rises in the rebar market have pushed some Turkish steelmakers' margins to $15-35/t, according to Argus estimates — a multi-year high. The imported scrap-domestic rebar differential required in order to make a profit is typically indicated at about $200/t, although this does vary widely between mills and according to production capacity utilisation, energy prices, domestic scrap prices and availability. Some mills are likely to require significantly more than a $200/t differential, sources say, while the largest mills can comfortably profit with a $190-200/t gap. Mills have also purchased ample volumes of Asian billet in the past few weeks at relatively competitive prices, which will support export margins. At least 250,000t of billet or possibly above 300,000t was booked from mid-August onwards, the bulk of it Chinese and Indian material priced at $495-505/t cfr. Export prices have now pushed above $590/t fob for rebar meaning mills that bought billet $100/t lower should theoretically have a margin of up to $45/t if they sell sufficient volumes at new price levels. By Corey Aunger and Brendan Kjellberg-Motton Scrap to rebar differentials in Turkey, Jan-Sep Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Italian ADI awaits decision on blast furnace shutdown
Italian ADI awaits decision on blast furnace shutdown
London, 4 September (Argus) — Italian steelmaker Acciaierie d'Italia (ADI) is running low on raw materials at its Taranto site, as the company and market participants wait to see if the shutdown of the hot melting area will go ahead. The company was ordered by a court to close the hot end at the end of July due to environmental infractions. Since then, it has ceased with new raw materials purchases, a source at the company said. There are enough raw materials for operations to run until the end of September and cover existing steel orders, they added. One trader estimated that the steelmaker has about two weeks of production left before the site runs out of raw materials. "They have failed on their [raw material] contracts for months [...] anyone who has steel term contracts with ADI is going to be left disappointed", the same source said. Government meetings regarding the future of the company are scheduled for next week, and a final decision from the court is expected by 16 September. ADI's potential stop to production comes in the context of ongoing negotiations about its sale with several interested parties. The latest party to submit a bid for the former Ilva assets was a consortium of Italian companies, led by steel association Federacciai. The bid, however, included only the cold end of operations. Indian steelmaker Jindal is understood to still be in the running, as is US equity firm Flacks Group, and a few other parties. Talk in the market this week suggested that some of the bidders, likely Italian-based companies, which rely on purchasing coils on the open market, are looking for slab supply to ADI and use the company as a tolling service. ADI is in negotiations with a re-roller for a 100,000t/month slab supply in exchange for tolling services, a company source said. By Carlo Da Cas and Lora Stoyanova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US adds 162,000 jobs in August
US adds 162,000 jobs in August
Houston, 4 September (Argus) — The US added 162,000 nonfarm jobs in August, nearly triple analysts' expectations, following two months of small job gains, in a sign the labor market may be stabilizing. Job gains were led by hiring in food services, drinking places and local government education, the Labor Department reported. Employment was revised up to 21,000 jobs added in July following upward revisions of 44,000, while gains were revised up to 31,000 for June on upward revisions of 11,000, for combined upward revisions of 55,000 over the two months, the Labor Department said. Still, job gains for the prior 12 months beginning July averaged just 31,000/month. "August's pick-up in payrolls looks like payback after two very weak months and the reversal of a seasonal adjustment distortion to education jobs," Pantheon Macroeconomics said in a note. It said seasonal factors used to adjust the raw data was "the most generous since 2015, potentially flattering the headline number." Food services and drinking places added 59,000 jobs in August, compared with average gains of 12,000 over the prior 12 months. Local government education added 42,000 jobs. Manufacturing added 16,000 jobs last month and is up by 58,000 from a recent low in December 2025. Health care added 13,000 jobs, about a third the pace of the last 12 months. Information technology shed 23,000 jobs, following average monthly losses of 8,000 over the prior 12 months. Construction added 22,000 jobs in August, following recent gains that were largely linked to data center buildouts, according to Pantheon. "AI likely is continuing to dissuade businesses in a wide range of sectors from adding to staff numbers for now," Pantheon said. The unemployment rate remained unchanged at 4.1pc, the Labor Department reported. Average hourly earnings slowed to an annual 3.1pc in August from 3.2pc the prior month, showing wage gains are trailing inflation. The labor participation rate ticked up to 61.6pc last month from 61.2pc the prior month, which was the lowest since the Covid-19 pandemic. The measure tracks those employed and actively looking for work and has been weakened by discouraged workers leaving the labor force, retirements and a smaller immigrant workforce, partly linked to government expulsions and crackdowns. The CME's FedWatch tool showed about 57pc odds of a rate hike Friday at the Fed's next policy meeting later this month, up from about 53pc odds on Thursday, as signs the labor market is strengthening helps it focus on rising inflation pressures linked to the Mideast Gulf war. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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