Steel raw materials
Complete mine-to-mill steel raw materials coverage featuring daily pricing, forecasts, news and expert analysis.
Overview
Argus provides comprehensive and independent coverage of global steelmaking raw materials markets, delivering trusted price assessments, market intelligence and analysis across iron ore, coking coal, pig iron and other critical inputs used in blast‑furnace and electric‑arc‑furnace production, supporting cost visibility and stronger insight across the steel production process.
Argus provides steelmakers, miners and traders with robust visibility into raw material cost formation across the steel production lifecycle. Daily assessments and analysis capture supply fundamentals, international trade flows, mill buying patterns as reflected in physical transactions, tenders and spot market activity, and the key pricing drivers influencing iron ore, metallurgical coal and ferrous feedstocks. This is supported by a broad set of proprietary datasets, including iron ore shipment tracking, mine project intelligence, and Asia‑Pacific coking coal and PCI deal coverage, enabling clearer insight into upstream supply conditions that shape steelmaking costs and margins.
As part of the Argus Steelmaking Raw Materials service, all benchmark prices and supplementary datasets are integrated to give clients a cohesive, end‑to‑end view of raw material markets. The service includes a suite of established benchmark indices relied upon by miners, steel mills, traders and financial participants. Key assessments include the ICX 62% Fe and ICX 61% Fe iron ore indices, the Argus Asia‑Pacific Coking Coal benchmark and the US Coking Coal price assessments—core reference points used for physical contracting, indexation and risk management across global metallurgical coal and iron ore markets. These benchmarks are complemented by Argus pricing for international ferrous scrap (available in Argus Scrap Markets), pig iron, green steel production cost calculations, and the Argus Steelmaking Raw Materials Outlook helping support strategic sourcing, hedging strategies and cost‑modeling across the global ferrous industry.
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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's EV sales top gasoline cars for first time
Australia's EV sales top gasoline cars for first time
Sydney, 4 September (Argus) — Record electric vehicle (EV) sales in Australia are expected to weigh on long-term gasoline demand growth after battery-powered vehicles outsold gasoline-powered cars on a monthly basis for the first time in August. Battery electric vehicle (BEV) sales reached a record 27,089 units in August, up by 171pc from the same month in 2025 and accounting for just under a quarter of total new vehicle sales, according from the Federal Chamber of Automotive Industries (FCAI). There were 25,824 gasoline-powered cars sold and 23,608 of diesel-powered cars sold. The milestone reflects a structural shift in Australia's passenger vehicle market and points to a gradual reduction in future gasoline consumption, particularly in major urban centres where EV adoption rates are highest. Total new vehicle sales rose by 0.4pc on the year to 100,939 units in August, according to the FCAI. Year-to-date sales totalled 811,388 units, broadly unchanged from the same period last year. BEVs surpassed gasoline-only vehicle sales, but internal combustion engine and hybrid vehicles continued to dominate the broader market. Plug-in hybrid vehicles accounted for 10.5pc of August sales and conventional hybrid vehicles represented 18.5pc, indicating that more than half of new vehicle purchases incorporated some form of electrification. The growing uptake of EVs is likely to have a more pronounced effect on gasoline demand than diesel consumption because passenger vehicles account for a significant share of Australia's gasoline use. Diesel demand is more heavily linked to freight, mining, agriculture and industrial activity, sectors where electrification remains at an earlier stage. The immediate impact on fuel demand is expected to be limited because EVs still represent a relatively small share of Australia's total vehicle fleet. But continued penetration of EVs into new vehicle sales could increasingly influence long-term forecasts for domestic gasoline consumption and import requirements. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India eyes mandatory storage for new solar, wind plants
India eyes mandatory storage for new solar, wind plants
Mumbai, 4 September (Argus) — India's power sector regulator, the Central Electricity Authority (CEA), has proposed mandatory co-located energy storage for new ground-mounted solar and onshore wind projects, alongside grid-forming requirements for renewable power plants. Projects commissioned after 1 July 2027 would need co-located energy storage systems (ESS) with a minimum two-hour duration and capacity equivalent to at least 10pc of installed plant capacity, according to the draft CEA regulations released on 3 September. The storage-duration requirement would increase to four hours for ground-mounted solar and onshore wind projects commissioned after 1 July 2029 and up to 30 June 2031, while the capacity requirement would remain at 10pc of installed capacity. A 100MW solar or wind project would therefore need at least 10MW of storage, with a minimum energy capacity of 20MWh under the first phase and 40MWh under the four-hour requirement. The proposal comes as India's battery storage deployment accelerates. The country added 2,668.54MW of battery energy storage system (Bess) power capacity, equivalent to 7,785.6MWh of energy storage capacity, during 2026, according to government data. Around 47GW of Bess is also being considered for integration by 2031-32. India's solar and wind capacity has continued to expand rapidly. Solar capacity stood at 164.59GW and wind at 58.14GW as of 31 July, accounting for around 74pc of the country's 300.51GW of non-fossil installed capacity, data from the ministry of new and renewable energy (MNRE) show. Ground-mounted solar accounted for 122.57GW of the total solar capacity, while India added 14.33GW of solar and 2.04GW of wind capacity over April-July, the first four months of the 2026-27 fiscal year. Solar generation rose by 47pc year on year to 80.87TWh during April-July 2026, while wind generation increased by 5.3pc to 52.07TWh, according to CEA data. The draft also proposes that renewable power plants commissioned after 1 July 2027 have at least 15pc of inverters with grid-forming control. All power conversion systems (PCS) of Bess would also need grid-forming control. The requirements would comply with technical requirements specified in its grid-connectivity regulations, CEA said. It would also be able to change the required percentage of grid-forming capability or ESS capacity from time to time. The CEA has invited comments on the draft until 4 October 2026. By Keertiman Upadhyay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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