Steel
Setting a new standard of market transparency through trusted pricing, steel-related data, news and analysis on global flat and long products.
Overview
Argus provides benchmark pricing and market intelligence across global semi‑finished and finished steel markets- including billet, slab, hot‑rolled coil (HRC), cold‑rolled coil (CRC), hot-dip galvanized (HDG), plate, rebar and more. Leading commodity exchanges such as the London Metal Exchange and Chicago Mercantile Exchange rely on Argus steel benchmarks as the settlement basis for HRC futures in China and Europe, reinforcing Argus’ role as an unbiased and independent provider of global steel price references. Our flagship NW Europe HRC and China HRC benchmarks, in addition to US HRC are widely embedded in physical steel contracts, strengthening price transparency and guiding procurement strategies, helping market participants settle supply contracts. Using indices allows companies to trade material on an index-linked basis, not only via fixed price sales, offering significant advantages when prices are volatile.
Argus delivers global steel coverage with localized insight across major trading regions- including the US, Latin America, Europe, China, Southeast Asia and the Middle East, offering a clear view of steel market drivers, price trends and regional market dynamics through Argus Global Steel. Together with Argus Steelmaking Raw Materials, this provides end-to-end insight across the entire steel supply chain- from upstream inputs through finished steel products. This intelligence is supported by robust trade‑volume datasets and continuous reporting on geopolitics, trade measures and supply demand shifts that influence global steel prices. Our methodology is underpinned by detailed context around the development of the price — including visibility into anonymized transaction volumes, data submissions and observable market trends — giving customers a level of clarity unmatched elsewhere in the market and strengthening confidence in every price assessment.
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Latest steel news
Argentina’s inflation extends gains
Argentina’s inflation extends gains
Montevideo, 13 August (Argus) — Argentina's annual inflation continued to increase in July, hitting 33.8pc, another high for the year and more than three times the government target. The consumer price index (CPI) rose by 33.5pc in June from a year earlier, up from 33.2pc in May, the statistics agency Indec reported. The latest figure was down from 36.6pc in July 2025. Leading the annualized increase was housing/utility, up 48.9pc, while transportation prices were up 40.9pc, education 40pc and entertainment, 36.7pc. Food/beverages increased by 34.5pc. All the leading categories were up compared to the previous month. On a monthly basis, CPI rose by 2.1pc in June, up from 1.9pc and matching the 2.1pc May rate. It peaked at 3.4pc in March for the year. President Javier Milei's administration forecasts inflation at 10pc for the year, while the International Monetary Fund (IMF) forecasts inflation at 30.4pc this year. -By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Germany's Thyssenkrupp eyes steel demand growth in 2026
Germany's Thyssenkrupp eyes steel demand growth in 2026
London, 13 August (Argus) — German steelmaker Thyssenkrupp is moderately positive about the outlook for global steel demand in 2026, although demand will depend on geopolitical tensions, energy prices and the performance of steel-consuming industries, the company said. Thyssenkrupp's forecast does not yet reflect the potential impact of new EU steel safeguard measures that took effect on 1 July. Global steel demand is expected to increase by 0.7pc on the year in 2026, despite a contraction in consumption in China, as demand is set to strengthen in the EU and the US. In the automotive sector, Thyssenkrupp expects output to continue declining. "At present, a year-on-year decline in production volumes is expected for the full fiscal year 2025-26. The main drivers are oil price trends in combination with temporary shipping restrictions in the strait of Hormuz, as well as weaker conditions in the Chinese market," the company said. By contrast, Thyssenkrupp expects machinery sales to increase by 1.7pc, supported by positive production trends in the EU, China and the US last year. Thyssenkrupp Steel Europe continues to reduce its cost base, cutting its workforce by 3pc year on year to 25,078 by the end of June, while reducing its investments by 42pc to €265mn ($305mn) in the first nine months of the 2025-26 fiscal year. Its investments were lower than a year earlier partly because funding received for its direct reduction (DR) plant resulted in a net negative investment. Construction of the plant's DR tower continues, while pre-assembly of the site's two smelters is nearly complete. "Intensive preparations are currently being made for the modernisation of continuous caster 3 in Duisburg, scheduled to start in the fourth quarter of fiscal year 2025-26," the company said. Thyssenkrupp Steel Europe's order intake rose above year-earlier levels in the latest reporting period, supported by higher orders from industrial and trading customers and stable orders in the automotive sector. Sales remained below year-earlier levels, reflecting the persistently weak macroeconomic environment. The division's adjusted earnings strengthened despite lower revenue, supported by a hiring freeze, restructuring measures, efficiency gains in production and logistics, and lower raw material costs. These factors more than offset weaker sales, Thyssenkrupp said. Thyssenkrupp completed the transfer of its 50pc stake in Huttenwerke Krupp Mannesmann (HKM) to German steelmaker Salzgitter on 9 July, for a symbolic price of €1. The former shareholders will inject fresh equity into HKM, with Thyssenkrupp Steel's contribution expected to be in the low-to-mid three-digit million-euro range. As a result of the HKM transaction, Thyssenkrupp expects an additional disposal loss in the low three-digit million-euro range in the fourth quarter of its 2025-26 fiscal year. Thyssenkrupp Steel Europe remained profitable in the third quarter and over the first nine months of the 2025-26 fiscal year, although its nine-month earnings before interest and taxes (Ebit) fell to €80mn from €251mn a year earlier. The firm's third-quarter Ebit rose to €185mn from €64mn, supported by restructuring measures and lower raw material costs. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Gulf war reverses fortunes for US OCTG demand
Gulf war reverses fortunes for US OCTG demand
Houston, 13 August (Argus) — US oil and gas drilling companies and rig owners have boosted their demand outlooks because of the global crude oil supply shock from the US-Iran war. US drilling contractors and oil country tubular goods (OCTG) producers now anticipate higher oil prices and increased oil and gas drilling to raise US demand in the second half of 2026, a far cry from declining rig counts and lower oil prices at the start of the year. Pipe and tube companies are bullish as crude oil prices bolstered by the war in the Middle East raise US drilling activity. The Argus West Texas Intermediate (WTI) fob Houston assessment stood at $84.82/bl on 11 August, up from $68.19/bl at the end of February and before the onset of the war. Rig contractors raise estimates Publicly traded drilling rig contractors have seen the greatest shift, as they now expect a second quarterly rig count increase. Drilling rig contractor Helmerich & Payne (H&P)'s shifting outlook reflects the war-fueled reversal of fortune in the industry. At the end of 2025, H&P lowered its rig count estimates for the first quarter because of lower oil prices and drilling activity. "Going into [2026], things felt relatively bearish, but I do think it's quite a different story right now," H&P chief financial office Todd Scruggs said. "We think this [third quarter] is a pretty good marker for where we're going to be in [2027], we actually think we will be improving from this base." But the stronger outlook remains contingent on oil prices staying elevated and the conflict not widening into a disruption that undercuts economic growth or drilling budgets. At the end of the first quarter, H&P and fellow drilling rig contractors Nabors and Patterson-UTI guided for the second quarter an average of 294-301 active US drilling rigs between them. The rig operators surpassed that outlook and exited the second quarter with an estimated 316 active drilling rigs in the US, which the companies expect to grow to an approximate 324 active rigs by the end of the third quarter. US private and independent oil and gas exploration and production (E&P) companies drove higher drilling rig demand as they capitalized on higher crude oil prices, gains that are expected to continue in the back half of the year. The US weekly active drilling rig count has held at 588 since mid July, the highest level since April 2025 and up from 539 a year earlier, according to oilfield services company Baker Hughes. Pipe producers expect US volumes to grow As more US drilling rigs activate, OCTG producers are working to take advantage of greater demand, import constraints and tight inventories. Higher US drilling activity and lower import volumes raised Vallourec's second quarter US tubular mill production and OCTG prices, chief executive Philippe Guillemot said on a 30 July earnings call. He added that US OCTG inventory levels are below five-year averages. Tenaris chief executive Gabriel Podskubka said the company's Bay City, Texas, seamless OCTG mill is running at record production levels to meet demand. OCTG prices have responded to the shortage and higher demand. The Argus Pipe Logix OCTG all items index, which reflects distributor selling prices, has climbed by $45/short ton (st) in July to $2,233/st, which is $224/st higher since the start of the year. Domestic OCTG mills have pushed about $600/st of price increases into the market and have struggled to bridge a large import supply gap despite raising production. US domestic OCTG pipe mill shipments collected by Argus and import volumes less exports from January-June are at 2.24mn st, down by about 500,000st from the same period in the prior year. OCTG supply declined solely on lower import volumes as major foreign OCTG suppliers like Austria and Taiwan are under US antidumping investigations, causing many US buyers to refrain from importing from those countries. The majority of US OCTG distributors remain optimistic that pricing will continue to rise, with the Argus OCTG distributors index at a positive reading of 86 in July, down by two points from June and the fifth consecutive positive reading. Multiple OCTG distributors reported sourcing difficulties in July for certain products that they would normally buy as imports and cannot find domestically. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US EAF mills lift MBQ steel prices
US EAF mills lift MBQ steel prices
Pittsburgh, 12 August (Argus) — Gerdau, Steel Dynamics and Nucor raised US merchant bar quality (MBQ) steel list prices by $30-80/short ton (st) effective 7 August. The mills increased MBQ angles, rounds and flats by $30/st, and some channel grades by $80/st. List prices for MBQ channel 8×11.5in rose by $80/st to $1,460/st ex-works, while MBQ angles 2×2×0.25in and 3×3×0.25in increased by $30/st to $1,296/st and $1,305/st ex-works, respectively. MBQ flat 4×0.5in and MBQ round 1in each rose by $30/st to $1,300/st and $1,324/st ex-works, respectively. The mills have raised MBQ channel prices seven times this year, and other MBQ angles, flats and rounds five times. Steelmakers also lifted list prices for structural beams by $50/st in early August, with a wide-flange 8×8in beam at $1,700/st ex-works. High mill run rates, order backlogs and strong non-residential construction activity have been driving MBQ and beam prices higher so far this year. Argus assesses MBQ grades monthly on the last working day of the month. By Brad MacAulay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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