Metals
Overview
The global metals markets are evolving rapidly, shaped by shifting supply chains, rising demand for critical minerals, geopolitical uncertainty, and increasing price volatility across ferrous, non‑ferrous and emerging technology metals. Argus provides independent metals pricing, trusted benchmarks and actionable market intelligence that give mining companies, metal producers, traders, manufacturers and recyclers the clarity and confidence they need to navigate increasing cost exposure, manage risks and make data-driven decisions.
Covering the steel supply chain, base metals, critical metals including rare earths, scrap, ferroalloys, raw materials and energy‑transition metals, Argus delivers accurate, reliable price assessments that reflect real market activity. Companies worldwide reference Argus metals benchmarks in physical and financial contracts to ensure fair, consistent and market‑aligned pricing, a crucial advantage in regions where regulatory environments, trade flows and cost structures vary dramatically.
With expert analysis, regional metals prices, market reporting, and fundamentals data, Argus helps users track market sentiment, identify key metals price drivers and stay informed on developments across ferrous, non‑ferrous and critical minerals markets, supported by localized coverage in the most active trading regions. This includes rapid shifts driven by developments in emerging supply chains, logistics constraints, shifting demand conditions, energy and input‑cost volatility, and China’s dominant role in global metals supply and demand, where changes in production, export policy, or refining capacity can quickly move global metals prices, availability and trade flows.
Argus empowers stakeholders across steel, raw materials, non‑ferrous and critical metals markets with reliable data, clear insights and a deeper understanding of global metals‑market dynamics, helping businesses remain competitive, agile and prepared for what’s next.
Market Coverage
Argus offers comprehensive coverage across all major metals markets, providing independent pricing and market intelligence for steel, steel raw materials, base metals, alloys, scrap, pipe and tube, battery materials, rare earths and specialty and minor metals. Our pricing and market intelligence provide a clear, structured view of metals markets worldwide, helping you monitor key trends and respond to shifting market dynamics with confidence.
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Latest metals news
Browse the latest market moving news on the global metals industry.
UK's proposed plan to dilute EV targets ‘short-termist’
UK's proposed plan to dilute EV targets ‘short-termist’
London, 16 June (Argus) — A proposed UK plan to ease battery electric vehicle (BEV) sales targets is a win for "short-termist incumbent lobbying", industry experts say, even though sales uptake has so far trailed the government's mandates. UK ministers are preparing a consultation that could result in the country's zero-emission vehicle (ZEV) sales mandate being lowered to roughly 50-70pc of all new car sales by 2030 from 80pc at present. Carmakers have struggled to keep pace with the government's targets and warn that their costs are rising sharply as the mandates tighten further. This strain can be seen in sales data, with BEVs accounting for 23.4pc of all new car sales last year, against a 28pc government mandate. The gap between actual sales and the government target comes despite strong sales growth and heavy incentives. Growth has continued this year but is still trailing behind the government target, which has climbed to 33pc of all sales this year. This has pushed carmakers to work to close the gap through discounts, timing tactics and credit trading, to drive up consumer demand. Carmakers are able to meet the ZEV requirement by banking credits, borrowing from future years or pooling performance — a system that has allowed compliance even when their annual averages lag. Sales tend to spike around the March plate change and April tax deadline , somewhat offsetting weaker periods. Industry-wide BEV discounting has exceeded £10bn ($13bn) over the past two years, in order to induce demand, UK trade body the Society of Motor Manufacturers and Traders (SMMT) says. This is equivalent to an average discount of almost £12,000/vehicle, which is a level that industry cannot sustain, the SMMT says. Other parties are more conservative, with retail platform Autotrader and consultancy Jato estimating an average discount of around £5,500/vehicle, clean energy think-tank Transport and Environment says. Some energy firms and campaign groups are pushing back against the government's proposal to weaken the rules. The government has chosen to side with short-termist incumbent lobbying instead of support the long-term future of industry, UK utility Octopus Energy founder Greg Jackson said. Fewer EV sales would result in higher electricity system costs, Jackson said. Repeated policy changes risk deterring investment, charging firms and advocacy groups warn. Policy instability "creates uncertainty for drivers and businesses, undermines confidence and makes investment decisions harder", industry body Electric Vehicles UK chief executive Tanya Sinclair said. And the market remains reliant on support measures. BEV uptake has been largely driven by corporate fleets and tax perks in recent years, with private demand remaining weak . Sales of plug-in hybrid vehicles have grown faster when confidence in fully electric cars dips, reflecting concern over upfront costs and charging access. The implications of this for the wider energy system are material, Transport and Environment said. Cars consume about 1bn bl of oil in Europe each year, costing the region about €67bn ($78bn) in imports last year, according to the think-tank. EVs are starting to reduce that exposure, with existing fleets saving around 46mn bl of oil in 2025 alone. This has cut import costs and dampened Europe's exposure to fuel price shocks. But weakening ZEV pathways would partly reverse that shift. A less ambitious trajectory across Europe could raise oil demand by hundreds of millions of barrels over the next decade, increasing import costs and leaving drivers more exposed to volatile oil markets, Transport and Environment said. By Chris Welch Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan's Nippon Light Metal, Kobe Steel merge Al units
Japan's Nippon Light Metal, Kobe Steel merge Al units
Tokyo, 16 June (Argus) — Japan's Nippon Light Metal and Kobe Steel will integrate their domestic aluminium extrusion businesses, the companies said on 15 June. The firms aim to sign a definitive agreement by the end of November 2026 and create an integrated entity in April 2027 or later. Nippon Light Metal's aluminium unit that is being merged has sales totalling around 30,000 t/yr, the company said. Meanwhile, Kobe Steel's Chofu Works, the unit that will be merged, sells about 28,000 t/yr. Nippon Light Metal supplies aluminium extrusion products to sectors including transport equipment, industrial machinery and containers. Kobe Steel focuses mainly on automotive components, as well as railway vehicles and general distribution sales. Kobe Steel's aluminium extrusion business posted weaker earnings because of falling orders, it said in a May briefing on its management plan for its April 2024-March 2026 fiscal years. It was considering options, including collaboration with other companies, to strengthen long term competitiveness, it said at the time. The integration will combine Kobe Steel's alloy development capabilities with Nippon Light Metal's processing technology and broad order base. The companies also plan to improve aluminium scrap collection, standardise capital investment and cut costs by using their combined technical expertise. The new entity will operate as a joint holding company, with Nippon Light Metal holding a majority stake. The tie-up will cover Nikkeikin Aluminium Core Technology, a unit of Nippon Light Metal, and related divisions under Nippon Light Metal, and Kobe Steel's aluminium extrusion, billet casting and processed product businesses at its Chofu Works, along with domestic sales divisions. By Fumito Nagase Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US-Iran agreement to end hostilities 'complete'
US-Iran agreement to end hostilities 'complete'
Washington, 14 June (Argus) — President Donald Trump on Sunday said an agreement with Iran was "now complete", as he ordered an end to the US naval blockade against Iran in conjunction with what he said would be the opening of the strait of Hormuz. "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade," Trump wrote in a post on Truth social at 5:29pm ET (21:29 GMT). "Ships of the World, start your engines." Iran's deputy foreign minister Kazem Gharibabadi said the agreement will kick off a 60-day period of further negotiations, which would include the removal of all sanctions against Iran, the handling of Iran's nuclear program, economic reconstruction and mechanisms to implement the agreement, according to Iran's semi-official Tasnim news agency. Trump announced the deal despite a flare up in hostilities between Hezbollah and Israel earlier in the day and last-minute concerns from Iranian leaders about the US' ability to deliver on its commitments. The official signing of the deal will be on 19 June in Switzerland, said Pakistani prime minister Shehbaz Sharif, who has been facilitating negotiations between the US and Iran. Mediators will hold meetings this week laying the groundwork for technical talks and the official signing, he said. "Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon," Sharif wrote in a post on social media. Ice Brent crude futures started sliding on the news in early Asian hours. The front-month contract was trading at $83.88/bl as of 21:34 GMT, down by more than 3pc than in the end of Friday 12 June. It remains unclear if tankers and other commercial vessels that have been stuck in the Mideast Gulf for months would be able to immediately start crossing the strait of Hormuz, portions of which have been mined. Although Trump said he authorized the "toll free" opening of the strait, Iranian officials have yet to commit that ships can cross the strait without adhering to requirements they have attempted to impose on maritime traffic. Trump has a history of overstating progress in reopening the strait of Hormuz, through which about a fifth of global oil flows. He wrongly claimed in April the strait was "completely open". Earlier on Sunday, an Israel military strike against what Israel's Defense Forces claimed was a "Hezbollah command center" in Lebanon threatened to upend Trump's push for rapid progress on a deal to end the war, which the US and Israel started on 28 February. Iran's parliamentary speaker Mohammad Bagher Ghalibaf, in a social media post, said the "incursion" indicated the US "either lacks the will to fulfill its commitments or the ability to do so." Trump said in a post on social media that the attack "should not have happened", particularly because an agreement was so close. The terms of the deal released so far are similar to those imposed under the Joint Comprehensive Plan of Action nuclear deal negotiated in 2015 under former president Barack Obama. Trump administration officials say despite the similarities to the prior deal, their approach was preferable. "The huge difference is we did this from a position of strength. President Trump led with military might," US defense secretary Pete Hegseth said during an interview with CBS News on Sunday. "We can snap the blockade [against Iran] back at any point and they can't do anything about that." By Chris Knight and Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
USW ratifies Alcoa New York, Indiana contract
USW ratifies Alcoa New York, Indiana contract
Houston, 12 June (Argus) — United Steelworkers (USW) union-represented employees of Alcoa's primary aluminum smelters in Massena, New York, and Warrick, Indiana, ratified a new labor contract days before the current one's 15 June expiration. The agreement will be in effect until May 2030 and will include a four-year, 18.7pc wage increase, Alcoa told Argus on Friday.There will be a $2,000 ratification bonus and pension increases. Massena union members in early May rejected an agreement, citing employee dissatisfaction with wages, and agreed to a 30-day contract extension. The USW proposed a strike authorization vote on 15 June. "We appreciate the efforts of everyone involved in the negotiation and ratification process and remain focused on maintaining safe and reliable operations while serving our customers and communities," Alcoa told Argus. By Emma DeArman Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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