Overview

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.

Latest steel raw materials news

Browse the latest market moving news on the steel raw materials industry

Latest steel raw materials news

India’s ISPL plans 10GW solar PV capacity by Nov 2026


11/04/24
Latest steel raw materials news
11/04/24

India’s ISPL plans 10GW solar PV capacity by Nov 2026

Mumbai, 11 April (Argus) — Indian manufacturer Indosol Solar (ISPL) is aiming to achieve 10GW of fully integrated solar photovoltaic (PC) capacity by November 2026, as it expects the Indian government's push towards greener energy will boost demand for solar products in the coming years. ISPL plans to increase its production capacity for upstream and downstream solar products, which include a 30GW plant for metallurgical silicon and polysilicon and a 20GW plant for solar ingot, wafer, cell and module capacity. It is also aiming to add 1,200 t/yr of solar glass to its portfolio, a source from ISPL told Argus. The firm has already started commercial production at its 500MW solar module plant in Nellore, Andhra Pradesh state on 31 March. It is expected to add 500MW of solar ingot, wafer, cell and module capacity by the end of this year. This will increase ISPL's integrated solar PV manufacturing capacity to 500MW by the end of December, 5GW by 2025 and 10GW by November 2026. India's product-linked incentive (PLI) scheme for solar modules manufacturing and its plan to use approved list of models and manufacturers in government-backed solar projects will increase demand for domestic solar products in the country, the ISPL source added. ISPL was among the three firms selected to establish a solar PV manufacturing plant under the PLI scheme for solar modules manufacturing, which provides incentives for five years post-commissioning of the solar manufacturing plants on the sales of high-efficiency solar PV modules and for domestic value additions. India is targeting to establish 450GW of renewable energy capacity by 2030, including 300GW of solar capacity. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest steel raw materials news

Liberty’s relationship with Czech government worsens


10/04/24
Latest steel raw materials news
10/04/24

Liberty’s relationship with Czech government worsens

London, 10 April (Argus) — The relationship between Liberty Steel — which owns the Ostrava plant — and the Czech government is breaking down. Senior Czech politicians and GFG Alliance chairman Sanjeev Gupta held a meeting in Prague today to discuss the plant. GFG Alliance is a loose-knit collection of entities including Liberty Steel. "I can say that the outcome of the negotiations was very disappointing," Czech Republic Minister of Industry and Trade Jozef Sikela said. "There may be more questions after today's meetings than there were before." Finance minister Zbynek Stanjura also attended the meeting, which the politicians said was at the behest of Liberty. "Today's meeting with the ministers and their subsequent comments were very disappointing," a Liberty Steel spokesman told Argus . "The ministers showed very little understanding nor the willingness to understand the complex situation. We are afraid that the chances of positive dialogue going forward are bleak. It is important to highlight that we have always abided by all the laws of the country and are doing our utmost to protect the business, its creditors and its employees despite very difficult conditions." The government has requested Liberty repay more than 8.2bn koruna ($346.1mn) owed to Ostrava from other group entities, including Liberty Finance Management. Liberty's latest restructuring plan for Ostrava envisages repayment of about half that amount, and no repayment to its major creditor Tameh Czech, which is owed more than Kc2bn. Tameh Czech's joint owners, ArcelorMittal and Tauron Energy, are trying to sell the business, which was reliant on Ostrava as its only customer. The government is also uneasy about Ostrava's reliance on sales of carbon emissions allowances to generate income. Ostrava plans to sell another €44mn worth of emissions rights in May, after selling almost €360mn worth between August 2022 and October 2023, while buying just €183mn worth over the same period, leaving it with a clear deficit. Liberty faces a reduction in the level of allowances provided to Ostrava because of reduced production in recent years — the company idled the last operational furnace at Ostrava in October and it has not restarted since. Ostrava's restructuring plan envisages an average selling price of €950/t and above in July, more than €300/t above Argus' current benchmark northwest EU hot-rolled coil (HRC) index. The restructuring plan also focuses on production of flat steel, including HRC, cold-rolled coil and hot-dip galvanised. Market participants have questioned whether prices can rise to such an extent given the difficult macroeconomic backdrop. It has been rolling imported slab at Ostrava and its Hungarian asset, Liberty Dunaujvaros, formerly known as Dunaferr. However, the Hungarian hot-rolling mill has stopped operating as 5,000t of slab at the site has not been paid for, so has not been released by creditors. Swiss and Italian traders have been helping finance some of Liberty's European purchases, according to multiple sources. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest steel raw materials news

Japan’s scrap export tender rebounds in April


10/04/24
Latest steel raw materials news
10/04/24

Japan’s scrap export tender rebounds in April

Shanghai, 10 April (Argus) — The monthly export tender of Japanese scrap dealer co-operative Kanto Tetsugen concluded today at a higher price compared with March, exceeding ¥50,000/t for the eighth consecutive month. The April tender was concluded at ¥51,087/t fas for 15,000t of H2 scrap, an increase of ¥987/t from March. This brought the fob price to an equivalent of ¥52,087/t or $343.06/t. The cargo is expected to be shipped to Bangladesh, with an estimated cfr price around $395-400/t. The rise in the tender result was primarily influenced by the weakening yen rather than robust overseas demand, trade participants indicated. The exchange rate against the US dollar dropped to ¥151.83 on 10 April from ¥147.64 on the day of the March tender. The dollar equivalent price of the April tender was $5/t lower than last month despite the ¥987/t gain. The tender result slightly surpassed the tradeable level in the seaborne market, potentially leading to higher export offers in the coming days. The Argus H2 fob Japan assessment was ¥50,400/t on 9 April, while the March monthly average was ¥50,165/t fob Japan. Overseas buyers faced challenges in keeping up with higher scrap prices, particularly as most mills in Vietnam and South Korea grappled with squeezed profit margins with sluggish steel sales prices. "But I think mills have to follow if they need to secure some tonnages from the seaborne market," a Japanese trader said. Taiwanese buyers may be able to match the latest export level on sustained demand. Their buying price of containerised HMS 1/2 80:20 rose to $360/t cfr on 9 April, suggesting they might consider purchasing Japanese H1/H2 50:50 at $370-375/t cfr. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Latest steel raw materials news

Japan’s JBIC ties up with CMP, Vale on steel feedstocks


10/04/24
Latest steel raw materials news
10/04/24

Japan’s JBIC ties up with CMP, Vale on steel feedstocks

Tokyo, 10 April (Argus) — The state-affiliated Japan Bank for International Co-operation (JBIC) has signed separate initial agreements with Chilean metals producer CMP and Brazilian mining firm Vale, aiming to diversify Japan's supply sources. JBIC aims to support Japanese firms to buy steel-producing raw materials from CMP and Vale whose pellets and pellet feed are known for their low-carbon content, according to the bank on 10 April. JBIC had agreed in March to offer up to a $480mn loan to Vale to secure iron ore purchases for Japan. The potential JBIC deals are ahead of Japanese premier Fumio Kishida's possible visit to Brazil and other Latin American nations in May. Kishida's travel was initially scheduled in January but cancelled because of domestic political issues. JBIC's announcement is in line with Tokyo's strategy to enhance economic co-operation with Global South countries. Japan's then-foreign minister Yoshimasa Hayashi travelled to Latin America in June 2023, meeting his counterparts in Brazil, Argentina, Ecuador and Mexico. Japan and its western partners have been putting extra effort to bring more of these countries into its Free and Open Indo-Pacific policy drive. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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