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 3.3pc in March, gasoline soars
US inflation quickens to 3.3pc in March, gasoline soars
Houston, 10 April (Argus) — US inflation surged to an annual 3.3pc in March, lifted by higher war-driven energy costs, including the largest monthly gain for gasoline on record. The consumer price index rose at the fastest pace since mid-2024, climbing from 2.4pc in the 12 months through February, according to the Bureau of Labor Statistics (BLS). The gain was in line with estimates of economists surveyed by Trading Economics. Energy rose to an annual 12.5pc in March compared with a 0.5pc annual gain in February. The 10.9pc monthly gain in energy was the largest for a single month since September 2005. Gasoline surged by an annual 18.9pc in March after falling by 5.6pc in February. Gasoline's monthly gain was 21.2pc, the largest monthly gain since records began in 1967, according to BLS. Fuel oil rose by 44.2pc in March from a year earlier, following a 6.2pc annual gain in February. The 30.7pc monthly gain in fuel oil was the highest monthly gain since February 2000, according to BLS. Energy services rose by an annual 5pc in March compared with a 6.3pc gain in February. Electricity rose by 4.6pc compared with a 4.8pc gain in February. Airline fares rose by 14.9pc following a 7.1pc gain the prior month. Core drop, flat Fed rate still expected So called core inflation, which strips out more volatile food and energy, rose by 2.6pc compared with a 2.5pc gain the prior month. "Looking ahead, core CPI inflation still looks set to fall this year, now that nearly all the tariff costs have been passed through to consumer prices, unit labor costs are rising at a sub-2pc pace, and new rents are essentially flat," Pantheon Macroeconomics said in a note. Fed funds futures suggest the Federal Reserve is likely to keep its target rate unchanged at 3.5-3.75pc through the end of the year, with about a 24pc probability of one quarter-point rate cut by December and just a 1.1 point chance of a rate hike. Services less energy services, considered core energy services, rose by 3pc compared with a 2.9pc gain the prior month. Medical care services rose by 3.7pc following a 4.1pc annual gain. Food rose by an annual 2.7pc following a 3.1pc gain. Meat rose by 6.8pc, down from 8.6pc. Shelter rose by 3pc, unchanged from the prior month. New vehicles rose by 0.5pc while used vehicle prices fell by 3.2pc in March from a year prior, both unchanged from a month earlier. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Recent deep-sea and short-sea cfr Turkey scrap deals
Recent deep-sea and short-sea cfr Turkey scrap deals
London, 8 April (Argus) — A summary of the most recent deep-sea and short-sea cfr Turkey ferrous scrap deals seen by Argus. Ferrous scrap short-sea trades (average composition price, cif Marmara) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 7-Apr 3,000 380 (80:20) April Samsun Bulgaria HMS 1/2 80:20 Y Ferrous scrap deep-sea trades (average composition price, cfr Turkey) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 2-Apr 35,000 400 (80:20) May Iskenderun USA HMS #1, P&S, shred Y 2-Apr 35,000 400 (80:20) May Izmir Cont.Europe HMS 1/2 75:25, P&S, shred Y 31-Mar 50,000 402 (80:20) May Marmara Canada HMS 1/2 95:5, P&S, shred Y Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran steel supply unlikely to benefit from ceasefire
Iran steel supply unlikely to benefit from ceasefire
London, 8 April (Argus) — Iran's steel production is unlikely to recover swiftly despite the announcement of a two-week ceasefire between the US and Iran late on Tuesday that could bring relief from higher energy prices and potentially enable shipping to resume through the strait of Hormuz. Damage to major Iranian steel producers Mobarakeh Steel and Khuzestan Steel after air strikes at the end of March have resulted in the companies halting production because of extensive damage to their plants. Repairs and the resumption of output is expected to take months, which is likely to tighten the supply of products to the semi-finished steel markets, to which both mills are large suppliers, with a combined production capacity of around 14mn t/yr. This could in turn keep slab and billet prices elevated — fob Asia slab prices have increased by $24/t since the end of February, while cfr Asean billet prices have risen by $30/t, according to Argus assessments. Iranian prices have also strengthened, with a deal concluding $26/t higher for April shipment compared with March-shipment prices. But the ceasefire announcement could bring some production cost relief in the form of lower energy prices, based on initial market reaction. European gas prices plunged at market opening on Wednesday, with front-month futures at Europe's benchmark Dutch TTF hub nearly 20pc lower, while the front-month Ice June Brent crude contract fell by around 16pc. Lower crude prices weighing on fuel oil markets and the prospect of shipping through the strait of Hormuz resuming could also benefit producers and exporters by pulling freight rates lower. Some steel producers in Asia and Europe, particularly of long products, raised prices throughout March because of higher energy costs, while a number of seaborne suppliers increased offers on a cfr basis to account for surging freight and logistics costs. The ceasefire has had no immediate impact on steel prices today, some traders said, but others noted that the euro strengthening against the US dollar has affected import prices — an offer at $700/t cfr would work out around €10/t lower at today's rate compared with the end of last week. "The risk [for Hormuz] to remain blocked is still too high if the ceasefire will be interrupted. So I guess shipowners will not accept cargoes from the Gulf," a trader said. By Lora Stoyanova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India's Jindal Steel lifts syngas use on propane crunch
India's Jindal Steel lifts syngas use on propane crunch
Mumbai, 6 April (Argus) — Indian producer Jindal Steel has started using synthesis gas (syngas) at its galvanizing and colour coating units to offset natural gas and propane shortages, the company said today. Jindal was previously using syngas to produce direct-reduced iron (DRI), but has now extended its use to downstream operations, a spokesperson told Argus . The shift comes in response to shortages of natural gas and propane stemming from the US-Iran war, which has hampered India's coated steel production. Galvanizing — a process in which steel is coated with molten zinc to prevent corrosion — requires propane as a fuel source for furnaces. The gas crisis thus prompted several downstream steel producers, particularly smaller re-rollers, to curtail output and ration gas supplies . Jindal Steel commissioned the world's first coal gasification-based DRI plant at its Angul facility in 2014. The 1.8mn t/yr plant uses Swadeshi domestic coal to produce syngas for DRI. "Thanks to the coal gasification process [Jindal] initiated a decade ago, we have been able to successfully operate our galvanizing lines, colour coating lines, and heat treatment lines using syngas as a fuel," said V. R. Sharma, member of the advisory board at Jindal Steel. Jindal has also started injecting syngas into blast furnaces, reducing dependence on imported coking coal and lowering carbon emissions, the company said. Industry experts say India's vast coal reserves make it well suited for expanded coal gasification, bolstering energy security and aiding decarbonization efforts. The Indian government aims to gasify 100mn t of coal by 2030 under the National Coal Gasification Mission. By Amruta Khandekar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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