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
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.
Australia awards $19mn for green iron pilot project
Australia awards $19mn for green iron pilot project
Sydney, 2 September (Argus) — The Australian federal government will provide up to A$26mn ($18.6mn) to green metals startup Element Zero to support the development of an electricity-powered green iron processing pilot project, ministers said in a joint statement on 2 September. Element Zero's A$53.6mn pilot project aims to produce low-emissions high purity iron using different types of Australian iron ore, including hematite and magnetite, as feedstock. The federal funding comes from Australia's Future Made in Australia Innovation Fund, part of the government's efforts to develop a domestic green manufacturing sector under the Australian Renewable Energy Agency. The proposed project will be delivered in two stages. The first pilot plant will be capable of producing around 1t/d of iron, while a second phase — subject to formal review — will scale production up to 10t/d. The pilot will test a low-emissions manufacturing process known as electrochemical ironmaking, which is powered by electricity and utilises molten salts to produce high purity iron ore without using coal. The plant will operate at temperatures of 400-450°C, lower than those used in typical ironmaking processes, the ministers said. The low operating temperature will allow the project to run on intermittent renewable energy sources, including wind, solar and hydropower, according to the company's website. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
GrafTech to shutter Monterrey electrode plant
GrafTech to shutter Monterrey electrode plant
Pittsburgh, 1 September (Argus) — GrafTech will permanently close its graphite electrode production facility in Monterrey, Mexico, to align capacity with market demand amid continued global overcapacity The Brooklyn Heights, Ohio-based company will wind down operations at the Monterrey site in phases, with production to end early in the second quarter of 2027, GrafTech said. The closure aims to improve manufacturing utilization, cut costs and concentrate output at GrafTech's larger and more efficient facilities. Annual graphite electrode capacity will fall by 51,000 metric tonnes (t) to 127,000t following the shutdown. The decrease includes 35,000t from Monterrey and a 16,000t reduction at the firm's Pamplona, Spain, facility because of changes in its production mix to provide full pin stock requirements. GrafTech will transfer pin stock production — currently centered in Monterrey — to its Pamplona facility. Remaining graphite electrode output will come from its Calais, France facility. The company expects annual cost savings of $20mn-25mn, excluding one-off closure costs of $20mn-25mn for equipment relocation, facility closure and employee-related items. The graphite electrode sector has experienced persistent overcapacity from China and India, outstripping demand growth and weighing on prices and profitability for several years. Greater supply discipline is required for a healthier industry and more balanced market conditions, GrafTech said. Graphite electrodes are essential for electric arc furnace steelmakers because they conduct the electricity needed to melt scrap, other metallic feedstocks and non-ferrous metals. GrafTech will maintain its North American footprint through vertically integrated petroleum needle coke operations in Seadrift, Texas, and its electrode machining and distribution site in Saint Marys, Pennsylvania. The Saint Marys facility will continue to support GrafTech's carbon and graphite offerings for energy storage and battery markets, even though graphite electrode production there was idled in 2024 and will remain idle after the transition. By Brad MacAulay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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