Critical Materials and Minor Metals
Independent pricing, news, and analysis across critical materials and minor metals markets, including hafnium, titanium, tungsten, tantalum, gallium, and other key strategic metals.
Overview
Argus provides independent pricing and market intelligence across the minor metals sector, supporting customers in markets where transparency is limited, liquidity varies widely, and supply is closely tied to byproduct production from major metals. Many of these materials also fall under the critical raw material frameworks in many countries, increasing sensitivity to policy changes, trade restrictions, and supply chain risk. For decades, Argus has been a trusted resource for companies looking for a reliable data source for pricing of critical materials outside of China.
Our coverage spans key metals including cobalt, tantalum, hafnium, titanium, tungsten, vanadium, molybdenum, gallium, germanium, indium, selenium, tellurium, magnesium, manganese, bismuth, and antimony and more, providing insight into spot price trends, regional dynamics, and technology-driven demand shifts. With a global team of market analysts across major producing and consuming regions, Argus delivers the independent perspective needed to support procurement planning, risk management, and strategic decision making in these opaque and highly politicized markets.
Argus’ critical materials and minor metals coverage is delivered through our global products, including Argus Non-Ferrous Markets, Argus Battery Materials, Argus Tungsten Analytics and Argus Rare Earths Analytics Service, giving customers a comprehensive view across specialty, technology, and critical metals markets.
Manufacturers dependent on engineered materials have additional challenges in determining the impact of critical metals on the cost of alloys they buy. Argus further supports clients with the Argus Alloy Calculator, enabling fast alloy should-cost analysis and synthetic indicative price generation to provide material value in the absence of traditional spot market assessments.
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Rio Tinto advances Australian iron ore mine projects
Rio Tinto advances Australian iron ore mine projects
Sydney, 29 July (Argus) — UK-Australian mining firm Rio Tinto has advanced construction at its Brockman Syncline 1, Hope Downs 2 and West Angelas iron ore mines, expecting to start production at all three mines in 2027, it said today. The mines are due to replace the firm's depleting, older mines . The firm's Pilbara capital investment increased by 34pc on the year in January-June reflecting continued investment in Pilbara projects, it said in its half-year results released on 29 July. The company recorded higher profitability at its Pilbara iron ore operations in January-June compared with a year earlier despite headwinds from a stronger Australian dollar and higher diesel prices. Underlying earnings before interest, taxes, depreciation and amortisation (ebitda) at Rio Tinto's iron ore operations in the Pilbara region of Western Australia (WA) were $7bn in January-June, up by 5pc on the year because of higher realised iron ore prices and increased production. Rio Tinto received an average of $105/dry metric tonne (dmt) cfr China for its 61pc ore and $122/dmt cfr China for its 65pc product in January-June, up from $101/dmt and $113/dmt, respectively, in January-June 2025. Unit costs increased by $0.70/t on the year to $25/t, driven by a $2.10/t headwind from a stronger Australian dollar and a $0.80/t impact from higher diesel prices. This was at the higher end of Rio Tinto's 2026 unit production cost guidance of $23.50-25/wet metric ton (wmt) on a fob basis. Cost headwinds were offset by productivity initiatives that increased plant operating time and allowed Rio Tinto to deliver higher volumes, the firm said. It achieved its highest half-year iron ore production result in eight years in January-June. Full-year iron ore sales guidance for the firm's Pilbara operations remains at 323mn-338mn t for 2026. The Argus ICX iron ore index was last assessed at $97.10/dmt cfr Qingdao on a 61pc Fe basis on 28 July, down from $97.65/dmt on 21 July. Argus last assessed 65pc Fe fines at $113.75/dmt cfr Qingdao on 28 July, down from $114.40/dmt on 21 July. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Taiwan's scrap imports drop in January-June
Taiwan's scrap imports drop in January-June
Shanghai, 28 July (Argus) — Taiwan's ferrous scrap imports rose in June on mills' restocking demand, but overall imports in the first half of the year fell given prolonged weakness in the steel market. Taiwan imported 159,000t of ferrous scrap in June, up by 12pc from May and by 0.7pc from a year earlier, customs data show. Imports for January-June dropped by 20pc from a year earlier to 762,000t. The imported containerised HMS 1/2 80:20 price trended steadily higher from the start of the year until mid-May, with the Argus assessment rising by $64/t to $361/t on 19 May. Optimistic market sentiment encouraged some steelmakers to be more active in the seaborne market, but weak fundamentals still curbed overall imports in the first half. Taiwan imported 360,000t of semi-finished steel in June, up by 36pc from May. Imports for January-June fell by 22pc from a year earlier to 1.35mn t, in line with the reduced scrap imports, reflecting weak steel demand in Taiwan. Scrap imports are likely to edge lower from July as imported scrap prices fell from late May and Taiwanese mills scaled down scrap purchases during the summer electricity restriction period, according to market sources. The US remained the top ferrous scrap supplier in the first half, with volumes down by 21pc at 389,000t. Imports from Japan in the first half fell below those from Dominica, as Japanese scrap prices were higher than those from other origins and mills bought less from Japan. Supply from Dominica and other South American countries rose strongly and filled the gap after Japanese scrap import volumes declined. Taiwan's ferrous scrap imports t Country June '26 m-o-m ± % y-o-y ± % Jan-Jun '26 y-o-y ± % US 79,525 11.6 -26.8 388,591 -21 Japan 13,740 42 113 46,446 -10.4 Dominican Republic 11,984 -3.1 153.6 46,920 44.3 Australia 5,242 -57 -64.9 79,261 -66.7 Others 48,213 33 111 200,813 42.9 Total 158,704 12 0.7 762,031 -20.2 Source: Taiwan customs Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Court orders Ilva to halt hot-end operations
Court orders Ilva to halt hot-end operations
London, 27 July (Argus) — Italian steel producer Acciaierie d'Italia (ADI) has been ordered to suspend operations at the hot end of the former Ilva steelworks in Taranto within 90 days, owing to various environmental infractions. Milan's Court of Appeal ruled that the site is a public health concern, as the 2025 environmental permit failed to adequately address risks associated with asbestos remaining at the site and emissions of fine particulate matter. ADI was approached for comment, but said it would not speak on the matter for the time being. For the steel market, the ruling raises the prospect of a significant supply disruption from one of Italy's largest steelmaking assets, casting further doubt on attempts by the Italian government to find an investor that will take over ADI's operations. A restart of hot-end operations would depend on the company fully removing the remaining asbestos and implementing measures to reduce fine-particle emissions to safe levels. "Operations across the entire hot-end area will come to a halt as a result," a source close to the company said. "In any case, an emergency government meeting has been called for 5:30pm [today] to address the issues of high energy costs and Ilva, so I expect we will have more information this evening or, at the latest, tomorrow," the same source said. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Nucor raises hot-rolled coil prices
Nucor raises hot-rolled coil prices
Houston, 27 July (Argus) — US steelmaker Nucor raised its hot-rolled coil (HRC) prices on Monday, with California prices facing a higher increase compared to other mills. Nucor's HRC consumer spot prices increased by $10/short ton (st) to $1,145/st, outside of California Steel Industries' prices, which the company raised by $15/st to $1,200/st. Lead times were steady at three to five weeks, although market participants have told Argus of longer overall lead times. Argus ' US HRC lead times rose by 0.6 week to 8 weeks on 21 July. Argus most recently assessed US HRC ex-works prices at $1,174/st during the week of 12-18 July, up by $9/st from the previous week. By Jenna Baer Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
