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.
Latest base metals news
Browse the latest market moving news on the global base metals industry.
Australia’s ASM sells first batch of heavy RE metal
Australia’s ASM sells first batch of heavy RE metal
Sydney, 15 July (Argus) — Australian rare earths producer Australian Strategic Materials (ASM) has sold its first batch of dysprosium (Dy) and terbium (Tb) metal to Canadian magnet maker Neo Performance Materials, and has signed a deal for future sales. ASM sold 2kg of Dy metal and 2kg of Tb metal to Neo from its South Korean metallisation plant, the company said on 15 July. It also sold 10t of neodymium-praseodymium (NdPr) metal to Neo — the latest in a string of NdPr metal sales to the Canadian producer , totalling 29t. ASM plans to maintain its sales relationship with Neo. The two companies have signed an initial non-binding agreement to work on future sales deals, ASM said on 15 July. ASM's initial agreement with Neo will run for 12 months, the company added. ASM will supply light and heavy rare earth metals to Neo's magnet plants, while the Canadian producer will support the Australian manufacturer's alloy production through gallium sales. The two companies will also partner on a tolling agreement for NdPr, Dy and Tb products produced in South Korea. ASM currently produces Dy, Tb, and NdPr metal at its South Korean plant, as well as neodymium iron boron alloys. It plans to eventually produce titanium, zirconium, hafnium, and niobium products at site using feedstock from its developing Dubbo project in Australia. ASM is progressing the Dubbo project alongside its metallisation business. The company published an updated Dubbo scoping study based on an alternative production process on 11 July. ASM's updated study cut Dubbo's forecast development cost by A$900mn ($589mn), from A$1.7bn to A$740mn. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
BHP, CATL, BYD ink battery deals for mining: Update
BHP, CATL, BYD ink battery deals for mining: Update
Beijing, 14 July (Argus) — Australian diversified mining group BHP has signed non-binding deals with China's largest battery manufacturer CATL and largest electric vehicle producer BYD to develop battery solutions for heavy equipment and railway locomotives used in mining activity. BHP and CATL aim to collaborate in areas such as the electrification of mining equipment, construction of fast-charging infrastructure, and energy storage and battery recycling. They plan to accelerate the electrification of BHP's mining operations and to create a replicable "green transformation model" for the global mining industry, CATL said on 14 July. Global demand for critical minerals such as lithium and nickel has increased with the rise in renewable energy technologies. This in turn has spurred the expansion of the mining industry, which is energy-intensive and emissions-intensive, said CATL. BHP aims to achieve net-zero greenhouse gas emissions in its operations by 2050. BHP and FinDreams Battery, a subsidiary of BYD, signed a similar deal on 14 July to research and explore battery system solutions suitable for heavy mining equipment and locomotives, as well as the corresponding fast-charging infrastructure. BHP will use explore the viability of using BYD's commercial and light vehicles in BHP's mines. CATL's total battery capacity is projected to reach 700-1,000 GWh/yr in 2025, which would make it the world's first TWh-level battery manufacturer, according to market participants. The firm has been accelerating expansions outside China in recent years, with projects in Germany, Hungary, Spain, and Indonesia. CATL has been trying to expand its presence in the conventional energy and mining sectors. It is building a 40 GWh/yr factory in Dongying, which is the largest oil refining city in China, with the aim of helping Dongying evolve into a zero-carbon city. China's sales of new energy trucks have increased in 2025, mainly on the back of government subsidies, overtaking LNG trucks in displacing diesel vehicles. The country's sales of new energy trucks in January-June reached about 72,000 units, more than 2½ times year-earlier levels. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
CATL, BHP team up to spur mining electrification
CATL, BHP team up to spur mining electrification
Beijing, 14 July (Argus) — China's largest battery manufacturer CATL has signed a non-binding deal with Australian diversified mining group BHP to develop battery solutions for heavy equipment and railway locomotives used in mining activity. The two firms aim to collaborate in areas such as the electrification of mining equipment, construction of fast-charging infrastructure, and energy storage and battery recycling. They plan to accelerate the electrification of BHP's mining operations and to create a replicable "green transformation model" for the global mining industry, CATL said on 14 July. Global demand for critical minerals such as lithium and nickel has been increasing with the rise in renewable energy technologies. This in turn has spurred the expansion of the mining industry, which is energy-intensive and emissions-intensive, said CATL. BHP aims to achieve net-zero greenhouse gas emissions in its operations by 2050. CATL's total battery capacity is projected to reach 700-1,000 GWh/yr in 2025, which would make it the world's first TWh-level battery manufacturer, according to market participants. The firm has been accelerating expansions outside China in recent years, with projects in Germany, Hungary, Spain, and Indonesia. CATL has been trying to expand its presence in the conventional energy and mining sectors. It is building a 40 GWh/yr factory in Dongying, which is the largest oil refining city in China, with the aim of helping Dongying evolve into a zero-carbon city. China's sales of new energy trucks have increased in 2025 , mainly on the back of government subsidies, overtaking LNG trucks in displacing diesel vehicles. The country's sales of new energy trucks in January-June reached about 72,000 units, more than 2½ times year-earlier levels. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Australia’s South32 reviews Mozambique Al operations
Australia’s South32 reviews Mozambique Al operations
Sydney, 14 July (Argus) — Australian metal producer South32 is reviewing the value of its 580,000 t/yr Mozal aluminium smelter in Mozambique, southeast Africa, and the plant's production target, over electricity supply issues. South32 expects to partially write down the value of Mozal in its upcoming financial report for the 2024-25 fiscal year ending 30 June. It is also reviewing Mozal's production target for the 2025-26 fiscal year. The target has not been released yet. Mozal runs on electricity supplied by Mozambique generator Hidroeléctrica de Cahora Bassa (HCB), which is partly owned by the country's government, and South African utility Eskom. South32's power supply agreement with the two providers will end in March 2026, the company said on 14 July. It has been negotiating a new agreement with HCB, Eskom and Mozambique's government for six years. But it has not been able to secure a deal. South32 may need to halt production at Mozal if it cannot sign a new supply agreement by March 2026, the company said. The company has faced operational challenges in Mozambique since late 2024. It withdrew Mozal's 2024-25 production guidance in early December 2024 because of civil unrest in the country. But the company later reset it to 350,000t, on an equity basis. South32 produced 314,000t of aluminium at the smelter , on an equity basis, in 2023-24. Mozal is not the only smelter facing electricity issues. Aluminium smelters consume large amounts of energy and global producers often face supply challenges. UK-Australian producer Rio Tinto is seeking the Australian government's support for its 600,000 t/yr Tomago smelter in New South Wales, Australia, because of energy costs. Rio Tinto also ran its 335,000 t/yr Tiwai Point aluminium smelter in New Zealand at a reduced rate over the second half of 2024, in response to an electricity demand reduction request from New Zealand utility Meridian Energy. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Copper market surplus could be short-lived
The global copper supply surplus is on track to balloon in 2024 as production outpaces demand, but burgeoning renewable and electric vehicle (EV) markets as well as long mine deployment times could reverse this trend.
WhitePaper - 24/10/15Battery and base metals face mixed outlook
Examine the battery material and base metals markets with this joint paper, with insight from the Argus and LSEG teams.
WhitePaper - 24/02/04INI: A new suite of Indonesian nickel benchmarks
Learn about the new suite of nickel prices launched by Argus in partnership with PT Indeks Komoditas Indonesia (PT IKI) in our latest white paper.