Metals
Overview
The global metals markets are evolving rapidly, shaped by shifting supply chains, rising demand for critical minerals, geopolitical uncertainty, and increasing price volatility across ferrous, non‑ferrous and emerging technology metals. Argus provides independent metals pricing, trusted benchmarks and actionable market intelligence that give mining companies, metal producers, traders, manufacturers and recyclers the clarity and confidence they need to navigate increasing cost exposure, manage risks and make data-driven decisions.
Covering the steel supply chain, base metals, critical metals including rare earths, scrap, ferroalloys, raw materials and energy‑transition metals, Argus delivers accurate, reliable price assessments that reflect real market activity. Companies worldwide reference Argus metals benchmarks in physical and financial contracts to ensure fair, consistent and market‑aligned pricing, a crucial advantage in regions where regulatory environments, trade flows and cost structures vary dramatically.
With expert analysis, regional metals prices, market reporting, and fundamentals data, Argus helps users track market sentiment, identify key metals price drivers and stay informed on developments across ferrous, non‑ferrous and critical minerals markets, supported by localized coverage in the most active trading regions. This includes rapid shifts driven by developments in emerging supply chains, logistics constraints, shifting demand conditions, energy and input‑cost volatility, and China’s dominant role in global metals supply and demand, where changes in production, export policy, or refining capacity can quickly move global metals prices, availability and trade flows.
Argus empowers stakeholders across steel, raw materials, non‑ferrous and critical metals markets with reliable data, clear insights and a deeper understanding of global metals‑market dynamics, helping businesses remain competitive, agile and prepared for what’s next.
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Argus offers comprehensive coverage across all major metals markets, providing independent pricing and market intelligence for steel, steel raw materials, base metals, alloys, scrap, pipe and tube, battery materials, rare earths and specialty and minor metals. Our pricing and market intelligence provide a clear, structured view of metals markets worldwide, helping you monitor key trends and respond to shifting market dynamics with confidence.
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Latest metals news
Browse the latest market moving news on the global metals industry.
Mexico economy tops forecasts with 2.2pc 2Q growth
Mexico economy tops forecasts with 2.2pc 2Q growth
Mexico City, 30 July (Argus) — Mexico's economy grew by 2.2pc in the second quarter of 2026, led by solid expansion in the agricultural sector and steady growth in the industrial and services sectors. Growth in gross domestic product (GDP) accelerated from an annual 0.2pc in the first quarter, statistics agency Inegi reported. The first-quarter figure was revised up from 0.1pc, reinforcing signs that the economy began gaining momentum in March. The second-quarter result followed 1.7pc annual growth in the fourth quarter of 2025 and a 0.2pc contraction in the third quarter last year. The primary sector, which includes agriculture, fishing, mining and hydrocarbon extraction, expanded by 7.6pc in the second quarter after growing 0.4pc in the first quarter, revised from an initial estimate of a 0.1pc contraction. Industrial sector output, including manufacturing, construction and mining, grew by 0.9pc after contracting 1.2pc in the first quarter, revised from a 1.3pc decline. The services sector expanded by 2.6pc from April to June, up from 1pc growth in the first quarter, revised from 0.7pc growth. The annualized second-quarter result surpassed the 2.1pc estimate from Mexican bank Banorte and well above its 1.6pc consensus estimate. Banorte said the "very positive" data reinforces its forecast for 1.4pc GDP growth in 2026, citing expected support from industrial and services activity. Banorte expects investment to remain a key driver, highlighting large planned projects in retail and e-commerce, including Mercado Libre's $4.6bn investment in Mexico. It also expects construction to benefit from government-backed spending on hospitals, natural gas infrastructure and renewable power projects. Banorte added that Mexico's trade outlook remains favorable despite the US decision on 1 July not to renew the USMCA free trade agreement while negotiations continue. Fitch Ratings estimates the latest US tariffs tied to forced-labor measures will actually lower Mexico's effective tariff rate to 3.7pc from 5pc. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil approves new rules for federal gas sales: Update
Brazil approves new rules for federal gas sales: Update
Adds large energy consumers association Abrace's comments. Sao Paulo, 30 July (Argus) — Brazil's national energy council CNPE approved a resolution on 30 July that will allow federally owned natural gas to be sold directly to the liberalized market through auctions, a move the government said could cut gas prices by more than 50pc and boost industrial competitiveness. The measure updates Brazil's policy for marketing state-owned gas and authorizes state-owned commodity trading firm PPSA to hold short-term auctions for 2026-30 and long-term auctions from 2030. The gas will be offered on an economic and competitive basis, with priority given to gas-intensive industries such as chemicals, petrochemicals, fertilizers and steelmaking, the government said. The mines and energy ministry estimates that state-owned gas prices could fall to about $5/mmBtu from around $12/mmBtu currently paid for gas commercialized by state-controlled Petrobras, according to minister Alexandre Silveira. The resolution is part of Brazil's gas-for-jobs program, which aims to increase domestic gas supply and improve competition in Brazil's gas market. The government said studies by state-owned energy research firm Epe indicate that the measure, together with ongoing regulatory actions by hydrocarbons regulator ANP, could generate R95bn ($17bn) in investments and add R79bn to Brazil's GDP. The government also expects the policy to lower gas costs for thermoelectric generation and compressed natural gas transportation. Large energy consumers association Abrace also backed the rules, saying they will create a more competitive environment and provide mechanisms to reduce gas prices for the industry. Abrace also highlighted other advancements made by ANP, such as the wider access to key gas infrastructures , which also help expand Brazil's open gas market. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil approves new rules for federal gas sales
Brazil approves new rules for federal gas sales
Sao Paulo, 30 July (Argus) — Brazil's national energy council CNPE approved a resolution on 30 July that will allow federally owned natural gas to be sold directly to the liberalized market through auctions, a move the government said could cut gas prices by more than 50pc and boost industrial competitiveness. The measure updates Brazil's policy for marketing state-owned gas and authorizes state-owned commodity trading firm PPSA to hold short-term auctions for 2026-30 and long-term auctions from 2030. The gas will be offered on an economic and competitive basis, with priority given to gas-intensive industries such as chemicals, petrochemicals, fertilizers and steelmaking, the government said. The mines and energy ministry estimates that state-owned gas prices could fall to about $5/mmBtu from around $12/mmBtu currently paid for gas commercialized by state-controlled Petrobras, according to minister Alexandre Silveira. The resolution is part of Brazil's gas-for-jobs program, which aims to increase domestic gas supply and improve competition in Brazil's gas market. The government said studies by state-owned energy research firm Epe indicate that the measure, together with ongoing regulatory actions by hydrocarbons regulator ANP, could generate R95bn ($17bn) in investments and add R79bn to Brazil's GDP. The government also expects the policy to lower gas costs for thermoelectric generation and compressed natural gas transportation. By Rebecca Gompertz Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EV charger rollout now held back by ‘cost not coverage’
EV charger rollout now held back by ‘cost not coverage’
London, 30 July (Argus) — The main barrier to electric vehicle (EV) adoption in the UK is affordability, not availability, as operators continue to build infrastructure ahead of demand, charging industry group ChargeUK head of communications Ian McKee said in an interview with Argus . Around one-third of UK households are still without off-street parking, while a much smaller share of current EV owners rely solely on public charging. That gap has become more visible as policy attention shifts from the number of chargers to charging costs, following recent concern that tax changes could further widen the advantage enjoyed by drivers who are able to charge thjeir EVS at home. Concern about charger availability was far more common 3-5 years ago than it is today, and the public charging network has roughly doubled over the past three years, McKee said. Recent analysis found near-home charging provision was around 1½ years ahead of projected demand and motorway charging around six years ahead, according to research firm Cenex. But Cenex does not suggest the issue is solved, estimating that rollout last year achieved only around two-thirds of the pace needed to preserve that lead and that a further 110,000 near-home chargepoints will be needed by 2030. Households without driveways also remain less well served, with only 23pc within a short walk of a public charger, up from 20pc on the year, it added. Cost gap grows, despite charger buildout Availability may be improving, but drivers without home charging still face substantially higher costs. Charging a battery-electric vehicle at home costs around 7p/mile , compared with about 26p/mile using ultra-rapid public charging. Public charging also continues to attract 20pc value-added tax, compared with 5pc on domestic electricity, a difference ChargeUK estimates costs drivers without home charging around £145/yr. The industry's main complaint is not charger hardware, metals or wholesale electricity prices, McKee said, but network and standing charges. Energy costs at rapid and ultra-rapid charging sites have risen by 79pc since 2021, while network charges have risen by around 300pc and standing charges by 462pc over the same period (see graph) , according to analysis done for ChargeUK by consultancy Cornwall Insight. Standing charges are fixed payments for maintaining grid connections and available capacity, regardless of electricity use. They now contribute around 20-30p/kWh at many rapid-charging sites and can account for roughly 70pc of energy bills, ChargeUK said. Costs for power-dense silicon carbide and gallium nitride semiconductors are becoming more important in EV charging equipment and 800V vehicle architectures, but operators are not identifying those materials as major drivers of charging costs. The Argus gallium min 99.9999pc fob China has risen by around 50pc since September to $530-560/kg, while N-type polysilicon has fallen by roughly 40pc to Yn31-33/kg ($4.58-4.88/kg) For copper, despite fast chargers requiring in excess of 60kg of the metal, operators have raised more concerns over theft than procurement costs, McKee said. Operators are increasingly installing battery energy storage systems alongside charging hubs. The systems can reduce required grid-connection sizes, lower exposure to capacity charges and help manage one of the industry's other persistent concerns — access to grid capacity itself. Investment depends on EV sales The charging sector argues it has largely built ahead of demand and now needs EV uptake to catch up. The sector could attract almost £30bn of investment by 2035 under current projections, according to ChargeUK-commissioned analysis by consultancy LCP Delta. That investment case depends heavily on the UK's zero-emission vehicle mandate, which provides confidence that EV demand will continue to grow. Weakening the mandate could remove £1.5bn-2bn of future charging investment, based on ChargeUK modelling cited by McKee. He argued that the effect would fall most heavily on less commercially attractive regions and sites, rather than on the busiest charging corridors. That dependence on future vehicle demand closely mirrors upstream battery-materials markets, where investment decisions in lithium, nickel and other supply chains similarly rest on expectations for future EV sales. The number of UK public chargers increased by 13pc in 2025, while electricity delivered rose by 21pc, but utilisation remained broadly unchanged. Ultra-rapid chargers were occupied only around 13pc of the time, despite a 40pc increase in charger numbers, according to Zapmap. That stability suggests operators are still building ahead of demand, rather than benefiting from sharply higher throughput. It also helps to explain why charging companies remain focused on EV adoption rates, utilisation and policy support, despite continued charger rollout. For the industry, the question is increasingly no longer whether enough chargers exist. For many drivers without a driveway, the bigger question is whether public charging can become cheap enough to compete with home charging. By Chris Welch UK energy costs, historic and forecast, archetypal small industrial user £/MWh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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