Base metals
Overview
From vehicle lightweighting to increased demand for copper to wire our connected world, base metals are used widely in manufacturing industrial and consumer products, and demand is only going to increase. Base metals are the most connected to the futures market already so what does even more demand mean for commodity investments?
Argus provides base metals premiums in the most active trading regions around the world, in addition to data from the world’s metals exchanges on a real-time (additional fees apply) or 30-minute delay basis.
Base metals coverage
Argus delivers price data on over 300 base metals through the LME, CME and COMEX, as well as proprietary assessments. Our market news and analysis spans copper, aluminium, nickel, lead, tin, zinc and other base metals crucial to commercial and industrial enterprises.
Track premiums in the most active trade regions and use our daily analysis to better understand the link between the physical and paper markets to better navigate futures, options and exchange-traded funds (ETFs).
Investors that do take positions on the financial markets can use Argus tools to highlight arbitrage opportunities and receive alerts when prices reach upper and lower threshold limits on their contracts of interest.
Highlights of Argus global base metals coverage
- Value-added exchange data tools offer a deeper level of insight to the standard exchange feed windows (calculated derived cash, global view of all exchanges on a single screen, threshold alerts).
- Full suite of non-ferrous scrap prices can be analysed to detect correlations or leading indicators for base metals prices.
- Currency and unit of measure conversions allow easy comparison of exchange data in different regions of the world to identify arbitrage opportunities.
- Base metals workspaces facilitate an holistic view of each individual market’s performance.
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EU eyes deducting carbon credits under CBAM
EU eyes deducting carbon credits under CBAM
London, 13 May (Argus) — Domestic and Paris Agreement-aligned international carbon credits used to pay for emissions in non-EU countries could be counted towards a carbon price already paid on an import's emissions under the bloc's carbon border adjustment mechanism (CBAM), under proposals published by the European Commission today. Under the CBAM regulation, declarants can claim a reduction in the CBAM certificates they must surrender for emissions embedded in imported goods if a carbon price has already been paid in the country of origin. In a draft implementing act published for consultation today, the commission proposed including all forms of compliance options allowed in the relevant country in the calculation, including carbon credits. Claiming this reduction should be allowed "irrespective of whether the mitigation activities linked to the carbon credit takes place domestically or outside the domestic jurisdiction", according to the draft implementing regulation. But while domestic credits could be counted with no additional criteria, only international credits issued under Article 6 of the Paris Agreement should be counted, the commission proposed. "This criterion should promote the development of Article 6 credits and provide the quality assurance necessary to ensure the environmental integrity of CBAM," it said. Counting international credits as a carbon price already paid on CBAM goods should also be limited to 10pc of the reported emissions to incentivise domestic emissions cuts, the commission said. Any rebates or compensation received by installations covered by carbon pricing should also be factored in, the commission proposed, including free allowances or other exemptions. The carbon price could have been paid on direct, indirect or precursor emissions, under the draft. The commission may publish default carbon prices for relevant countries, it said. And it proposed publishing a yearly reference price for CBAM certificates to be used in the calculation of the deduction. The price paid in the non-EU country would be based on either a yearly average primary or secondary market price or individual records of payment, converted to euros based on yearly average exchange rates. The regulation would apply from 1 January this year. The consultation closes on 10 June. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Lithium Argentina's Li prices double in 1Q
Lithium Argentina's Li prices double in 1Q
Sao Paulo, 12 May (Argus) — Lithium Argentina (LAR) swung to a profit in the first quarter as the company's average lithium sale prices more than doubled over the year. The company swung to a $7.5mn profit in January-March from a $7.2mn loss in the first quarter of 2025, as its average realized lithium prices climbed to $16,818/metric tonne (t) from $8,085/t. LAR sells lithium at a 6-7pc discount to Chinese reference prices, excluding VAT, chief-executive Sam Pigott said. Argus -assessed ex-works China lithium carbonate prices, with VAT excluded, averaged $19.628/kg ($19,628/t) in the first quarter. LAR's lithium sales totalled $168mn, meaning it sold roughly 9,990t of lithium carbonate equivalent (LCE) in the first three months of the year. LAR's flagship project in Argentina, Cauchari-Olaroz, has a 40,000 t/yr LCE capacity, and the company produced 9,660t of LCE in the first three months of 2026, maintaining output at around 97pc of the project's designed capacity. Production increased by 34pc compared with the same period last year and was steady with the previous quarter, as ramp-up is nearly concluded. Production was in line with the company's full-year production guidance of 35,000-40,000t. LAR's business has been [relatively unscathed by the US-Iran war, as oil and gas costs make up less than 3pc of its operational costs, according to Pigott. "We feel very good about our cost profile and our insulation against broader inflationary trends globally," Pigott said Thursday on the company's earnings call.Cauchari-Olaroz is managed by Minera Exar, a joint-venture between LAR, China's Ganfeng Lithium and provincial-owned firm JEMSE. By Pedro Consoli Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India's critical minerals push faces funding gap: IEEFA
India's critical minerals push faces funding gap: IEEFA
Mumbai, 12 May (Argus) — India's plan to build a domestic critical minerals supply chain risks being slowed by financing bottlenecks, policy execution delays and continued dependence on imported raw materials, according to a report released today by think-tank the Institute for Energy Economics and Financial Analysis (IEEFA). India imports 100pc of the lithium, cobalt and nickel used in clean energy manufacturing, with demand expected to rise as the country targets 30pc electric vehicle penetration by 2030 and raise installed solar capacity to 230GW and wind capacity to 140GW, the report said. Investment appetite remains weak because critical minerals projects involve high upfront costs, volatile prices and long development timelines. Mining projects can take 10-15 years to move from exploration to commercial production, creating prolonged periods of uncertainty for investors. India launched its National Critical Mineral Mission (NCMM) in January 2025 with an outlay of 343bn rupees ($3.7bn) over seven years, targeting 1,200 exploration projects and auctioning more than 100 critical mineral blocks by 2030-31. But the programme focuses largely on regulatory support and lacks direct capital expenditure backing for large-scale mining, refining and processing projects, IEEFA said. India has also widened its critical minerals focus beyond energy transition materials. In January, the government classified coking coal as a critical and strategic mineral as part of efforts to reduce import dependence and support steel sector expansion. India aims to raise crude steel production capacity to 300mn t/yr by 2030 and 500mn t/yr by 2047, while the coal ministry's ‘Mission Coking Coal' targets domestic output of 140mn t/yr by 2030 from 66.49mn t/yr in fiscal year 2025-26, provisional data from the ministry show. The scale of these targets is likely to require significant long-term funding across mining, processing and related infrastructure. India identified 5.9mn t of inferred lithium resources in Jammu and Kashmir as of 2023, data from the Ministry of Mines show. The country also holds 13.15mn t of monazite deposits, containing an estimated 7.23mn t of rare earth oxides. In February, the Geological Survey of India identified 482.6mn t of rare earth ore resources through exploration projects. The report also stated that India's midstream refining sector faces pressure from Chinese overcapacity, which continues to suppress margins globally. China accounts for around 60-70pc of global refining and processing capacity for key minerals such as lithium, nickel and cobalt, and about 90pc of rare earth refining. China also controls about 51.7pc of global rare earth reserves, according to the report. The International Energy Agency estimates that global mining and refining would need $915bn in fresh investment between 2026-35 under its Announced Pledges Scenario, it stated in a report in October last year, highlighting the scale of additional investment needed to meet projected demand. India is also pursuing bilateral partnerships with Australia, Argentina, Peru, Chile, Zimbabwe, Mozambique, Malawi and Côte d'Ivoire to secure access to critical minerals, while state-backed Khanij Bidesh India is seeking overseas lithium and cobalt assets. By Keertiman Upadhyay and Romil Sethi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
CFC Recycling acquires Goolsby & Sons
CFC Recycling acquires Goolsby & Sons
Houston, 7 May (Argus) — Tennessee-based CFC Recycling has acquired Goolsby & Sons (G&S) Recycling, expanding its footprint in the state with a third scrapyard and adding a new feedstock source for its nonferrous shredder. CFC plans to temporarily close the G&S site in Gallatin, Tennessee, to renovate buildings and equipment and to concrete surfaces, the company told Argus on Thursday. CFC plans to fully reopen the location in June after holding a soft opening on 18 May. Financial details of the acquisition were not disclosed. CFC runs scrapyards in Tullahoma and McMinnville, Tennessee, recycling both ferrous and nonferrous scrap. It operates a 3Tek Bravo 6280 hammer mill shredder, through which it shreds stainless steel and "aluminum specialty items". By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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