Steel
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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
EU slaps 5.6-28pc AD duties on CRC imports
EU slaps 5.6-28pc AD duties on CRC imports
London, 6 August (Argus) — The EU is set to introduce anti-dumping (AD) duties on cold-rolled coil (CRC) steel ranging from 5.6-28pc on imports from India, Japan, Taiwan, Turkey and Vietnam, a document obtained by Argus shows ( see table ). No date is given for the implementation of the duties, with the measures expected to come into effect once they have been published in the EU's official journal. The probe into dumping began just under a year ago after European steel association Eurofer lodged a complaint, claiming that dumped CRC imports were detrimental to the EU steel industry. The period from 1 July 2024 to 30 June 2025 was examined. "Conclusions show that there were no compelling reasons that it was not in the Union's interest to impose measures on imports of CRC originating from the countries concerned," the document said. The EU started monitoring CRC imports in early December, leading market participants to believe that retroactive duties could be imposed, although the EU eventually decided against this. The European CRC market has been on an upward trajectory ever since the announcement of the AD investigation — mills have leveraged uncertainty and supply disruptions to hike prices. European CRC production capacity is limited after years of relying on imported material, with mills focusing production on more profitable hot-dipped galvanised material. This, coupled with the introduction of new stringent import measures that have cut CRC free allocation, has created a tight market environment, with buyers now seemingly at the mercy of European mills. Offers were last heard around €840/t ex-works in the northwest cold-rolled coil market, with some market participants projecting €900/t ex-works as a new potential target for mills in the coming months. By Carlo Da Cas EU CRC anti-dumping duties Country Company Dumping margin Injury margin Definitive anti-dumping duty India JSW Steel; JSW Steel Coated Products 9.5% 25.5% 9.5% Other co-operating companies (see annex) 9.5% 25.5% 9.5% All other imports originating in India 9.5% 25.5% 9.5% Japan Nippon Steel; Daido Steel 56.0% 28.0% 28.0% Other co-operating companies (see annex) 56.0% 28.0% 28.0% All other imports originating in Japan 56.0% 28.0% 28.0% Taiwan China Steel; Chung Hung Steel 36.5% 20.7% 20.7% Other co0operating companies (see annex) 36.5% 20.7% 20.7% All other imports originating in Taiwan 59.6% 27.0% 27.0% Turkey Borcelik Celik Sanayi Ticaret 9.7% 12.9% 9.7% Tatmetal Celik Sanayi ve Ticaret 5.6% 17.7% 5.6% Other co-operating companies (see annex) 7.3% 16.3% 7.3% All other imports originating in Turkey 9.7% 17.7% 9.7% Vietnam Posco Vietnam 16.0% 25.8% 16.0% Other co-operating companies (see annex) 16.0% 25.8% 16.0% All other imports originating in Vietnam 16.0% 25.8% 16.0% — EC Annex Country Company India Tata Steel Japan JFE Steel Proterial Taiwan Synn Industrial Turkey Erdemir Group: — Eregli Demir ve Celik Fab — Erdemir Celik Servis Merkezi San. ve Tic Atakas Celik Sanayi Ve Ticaret Anonim Sirketi Yıldız Entegre Agac Sanayi ve Ticaret Gazi Metal Mamulleri Sanayi ve Ticaret Vietnam China Steel and Nippon Steel Joint Stock Hoa Sen Group Jont Stock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US auto sales slow in July from 2026 high
US auto sales slow in July from 2026 high
Houston, 5 August (Argus) — US automotive sales in July slipped after reaching their highest level this year in June, as consumers tempered purchases but continued to spend in the face of renewed inflationary pressures after the US and Iran resumed hostilities. Sales of light vehicles, which are pickup trucks and cars, fell to a seasonally adjusted annual rate of 16.3mn units in July, down from an upwardly revised 16.6mn in June, the Bureau of Economic Analysis reported on Tuesday. Last month's total represented a 1.8pc decrease from July 2025's annualized rate of 16.6mn. Buyers — primarily affluent ones — continued to spend in July, buoyed by continuous gains in equity markets that have increased household wealth. Still, affordability concerns linger with fuel prices rising again after the ceasefire agreement in the Middle East broke down and markets still expecting the US Federal Reserve to raise its target interest rate this year, which would raise borrowing costs. Average US retail gasoline prices ended the week of 3 August at $4.079/USG, representing an 8pc increase from the week ended 6 July, the latest US Energy Information Administration data shows. The Chicago Mercantile Exchange's FedWatch tool is showing a 53pc probability of a quarter-point rate hike at the Fed's September meeting, as policymakers seek to reel in inflation that remains nearly double their 2pc target. Sales of pickup trucks in July fell by 1.8pc to a 13.6mn annual unit rate on the month, while car sales ticked up by 0.6pc to a 2.7mn unit rate in the same period. US vehicle production in June increased to a seasonally adjusted rate of 10.68mn units, rising from an upwardly revised 10.41mn in May, the latest Fed data shows. Auto assemblies are reported with a one-month lag to sales. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Markets ever more sensitive to disruption: Glencore
Markets ever more sensitive to disruption: Glencore
London, 5 August (Argus) — Energy markets are increasingly sensitive to disruptions because of the significant inventory drawdowns in the first half of this year, trading firm Glencore said today. Reporting its results for the January-June period, Glencore said the volatility was such that it waived its $200mn value-at-risk (VaR) limit for a period between March and May. Glencore uses VaR to provide an estimate of the potential loss on risk positions over a defined time horizon, at a specified confidence level, based on historical price movements. It said the measure hit a high of $456mn during the first half, when it averaged $165mn. The measure averaged $72m in the comparable period in 2025. Glencore expects market volatility to remain "above historical norms" for some of the second half of this year, "albeit at lower levels than experienced during the first half." Glencore today said adjusted earnings before interest and taxation, depreciation and amortisation (Ebitda) at its Marketing business, which encompasses its trading operations, rose to $3.64bn in January-June, from $1.7bn a year earlier. The increase was driven mainly by oil and gas trading operations, it said. The company's Industrial business, which includes its extensive mining operations and its small crude production concern, made an adjusted Ebitda of $6.5bn, up by 72pc on the year. Glencore's overall profit in the first half of the year was $4.4bn, compared with a loss of $655mn a year earlier. By Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s BHP faces iron ore port strike in August
Australia’s BHP faces iron ore port strike in August
Sydney, 5 August (Argus) — Unionised workers at Australian mining firm BHP's Port Hedland iron ore export operations will strike on 8-9 August after the company and employees failed to reach a breakthrough at the last enterprise bargaining meeting on 4 August. The meeting was productive but failed to resolve substantive issues, the combined port unions — the Electrical Trades Union, Australian Workers Union and Australian Manufacturing Workers' Union — said on 4 August. BHP has committed to tabling an updated enterprise agreement (EA) proposal at the next bargaining meeting scheduled for 18 August, a spokesperson for the firm said today. Significant progress was made at the 4 August meeting, which was mediated by Australia's workplace ombudsman the Fair Work Commission, BHP added. Industrial action will start with a 24-hour ban on ship-loading from 05:30 AWST on 8 August (21:30 GMT, 7 August), followed by a 24-hour work stoppage from 05:30 AWST on 9 August (21:30 GMT, 8 August). About 150 workers plan to join the action over the weekend. The Chamber of Minerals and Energy (CME) WA estimates that a 24-hour stoppage at Port Hedland would cost BHP A$120mn ($83mn) in export revenue. BHP has been negotiating a new EA with its Port Hedland maritime workforce since October 2025, which will cover around 450 employees, excluding contractors. Up to 236 of these workers are eligible to strike, Fair Work Commission (FWC) records show. Port Hedland has a total workforce of around 1,200 workers. Port Hedland workers last held industrial action on 16 July , but this did not prevent a loaded vessel from leaving the port early on 17 July, BHP said, despite about 63 workers participating in the strike. Port Hedland is the world's largest bulk iron ore export port and a key export hub in BHP's WA iron ore supply chain. BHP produced 256.9mn t of iron ore from its WA operations in the July 2025-June 2026 fiscal year. All of BHP's WA iron ore is exported through Port Hedland. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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