Steel
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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
Japan steel groups slam new EU safeguard measure
Japan steel groups slam new EU safeguard measure
Tokyo, 2 July (Argus) — Five Japanese steel industry groups issued a statement on 1 July calling the EU's new steel safeguard measure "inappropriate and regrettable," and stating that the measure is unfair to Japan given its economic ties with the EU. The new regulation , which came into effect on 1 July, includes establishing tariff-free quotas for 18.3mn t/yr and introducing a 50pc out-of-quota duty for 26 categories of steel. The regulation reserves 50pc, or 9.15mn t, of the 18.3mn t annual EU import quota for countries with a free trade agreement (FTA). The remaining 50pc is available for all countries, with or without an FTA. The tariff quota for Japan has been set at 800,000t, which falls well short of the 2022-24 average import volume of around 1.5mn t/yr, the groups said. The groups said the measure is unfair to Japan, considering its economic partnership agreement (EPA) with the EU. They urged the Japanese government to keep negotiating with the EU. They also asked Tokyo to consider using dispute settlement procedures under World Trade Organization agreements and the Japan-EU EPA. The five groups are the Japan Iron and Steel Federation, the Special Steel Association of Japan, the Japan Stainless Steel Association, the Japan Wire Products Association, and the Non-Integrated Steel Producers' Association. The groups also noted that the EU opened an anti-dumping (AD) investigation into hot-rolled flat steel products from Japan, Egypt, India and Vietnam in August 2024. Imports of hot-rolled flat steel products from Japan had already dropped after the EU tightened its old safeguard measure in July 2024. The groups criticised the EU for ignoring this trade-restrictive effect when it found injury and imposed final AD duties in September 2025. The EU also launched a separate AD investigation in September 2025 into cold-rolled flat steel products from five countries and entities — Japan, India, Taiwan, Turkey and Vietnam. The groups raised a similar concern, saying AD duties could again be imposed without properly accounting for the trade-restrictive effect of the tightened safeguard measure on those products. The groups said the EU's trade measures are hindering smooth steel trade between Japan and the EU. Japan's government also raised concerns about the EU measures in its "2026 Report on Compliance by Major Trading Partners with Trade Agreements", published in June. The report pointed to inconsistencies with international rules, including WTO agreements and the Japan-EU EPA. The groups said the EU's unfair trade measures are hindering the smooth export of steel products by Japanese companies to the European market. They called on the Japanese government to pursue persistent negotiations with the EU. They also urged Tokyo to work toward an early resolution of the issue. By Fumito Nagase Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Calif. advances metal shredder regulation bill
Calif. advances metal shredder regulation bill
Pittsburgh, 1 July (Argus) — A California legislative panel advanced a bill on 30 June to centralize metal shredder regulations with a single agency while not classifying metal shredding sites as hazardous waste facilities. The bill would make the Department of Toxic Substances Control (DTSC) the central regulatory authority over metal shredding facilities and force metal shredders to get a permit with the agency. And, importantly, metal shredding facilities would not be classified as hazardous waste sites under the bill. An environmental committee in California's lower house approved the bill on 30 June, sending it to the appropriations panel. The full state assembly would have to approve it before it reaches the governor's desk. Metal shredders and California regulators have tussled for years over DTSC's hazardous waste authority at shredding facilities. The state's largest shredders, including SA Recycling, Sims Metal, Radius Recycling, and American Iron & Metal, support the bill because it clarifies the current regulations and largely excludes shredding facilities from hazardous waste laws. A handful of smaller shredders voiced opposition to the bill at a hearing on 30 June because it would put in place another layer of regulation that they view as more suited toward mega-shredders at coastal export yards. Environmental groups, including the Natural Resource Defense Council, opposed the bill because they said it would exempt shredders from hazardous waste laws and put looser standards into place. A key point of contention is the disposal of a waste byproduct of shredding. Larger shredders that can process automobiles tend to treat their shredder byproduct with chemicals before disposing of it. DTSC has scrutinized the proper chemical treatment and disposal of that waste in the past. Smaller shredders, which recycle substantially less scrap, do not shred autos and typically process cleaner metal. They containerize their shredder residue and ship it to disposal sites. The governor vetoed a similar bill last year because it lacked "clear definitions regarding the materials processed at these facilities, including what ‘hazardous waste' requirements are applicable," he wrote in the veto note. The current version of the bill attempts to clarify that discrepancy. "There is no state in the nation that utilizes hazardous waste as the standard from which they regulate metal shredders," bill author Sen. Anna Caballero (D) said. "This will be the highest standard anywhere in the country." By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
CBAM certificate price at €75.28/t CO2e in 2Q26
CBAM certificate price at €75.28/t CO2e in 2Q26
London, 30 June (Argus) — The EU's carbon border adjustment mechanism (CBAM) certificate price is calculated at €75.28/t of CO2 equivalent (CO2e) for the second quarter of 2026, just slightly lower than the price for the first quarter. This was calculated using a weighted average of the EU emissions trading system (ETS) auction clearing prices over the period and is a touch below the price for the first quarter, which stood at €75.36/t CO2e. The European Commission is set to formally confirm the second-quarter price on 6 July. The commission will use the same methodology to calculate certificate prices for the remaining quarters of 2026, but from 2027 it will switch to a weekly average auction-based calculation. The CBAM certificate price for the third quarter will be published on 5 October and for the fourth quarter on 4 January. The CBAM certificate price reflects the costs for embedded emissions that importers need to pay for CBAM goods. The mechanism was implemented at the beginning of 2026 and is aimed at creating a level playing field between EU producers of the same goods — that are obligated under the EU ETS — and importers that operate in jurisdictions with weaker or no carbon prices. But CBAM declarants will be able to deduct any effective carbon price paid in a non-EU country. The commission opened a related draft implementing act in May for consultation. The commission proposed including all forms of compliance options allowed in the relevant country in the calculation, including carbon credits. 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, according to the draft, with the latter allowed to count for only up to 10pc of total embedded emissions. Some industrial firms urged the commission to publish a country-by-country list of carbon pricing instruments eligible for deductions to boost transparency, citing uneven development of global carbon markets and the need for consistent treatment across jurisdictions. The bloc is working on acts proposed in late December that will address some of the loopholes in the CBAM scheme, such as extending the CBAM rules to downstream products, maintaining export competitiveness and including pre-consumer scrap in the CBAM goods list for steel and aluminium. EU member states agreed on 12 June to extend the scope of CBAM to 200 more downstream products in addition to the 180 goods proposed in December . The changes are expected to become effective from the start of 2028 and the commission will conduct an annual review to assess additional downstream products for possible inclusion, it said. The European Council also formalised its position regarding the addition of Article 27a to the CBAM regulation, which would allow for goods in a specific sector to be made exempt from the CBAM goods list if facing "unforeseen and serious" circumstances that severely harm the bloc's internal market. Such a measure could be triggered if prices exceed the 10-year average by more than 50pc for at least six months, the council said. Both EU member states and the European Parliament must negotiate a final text before the changes can come into force. By Kiara Campagne Nieva and Erisa Senerdem Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
New EU longs quotas softer than expected
New EU longs quotas softer than expected
London, 30 June (Argus) — The EU has finally released its updated steel safeguard on the day before its implementation, but some market sources regard the measures as lighter than they could have been. The introduction of a 50pc out-of-quota duty, as well as lower quota volumes in most cases, will present major difficulties for importers, particularly in the third quarter, with no certainty over quota volumes until today. The reduction of Turkey's long steel quotas was broadly as expected, with rebar and wire rod volumes down by about 37pc to just below 60,000 t/quarter and just above 61,000 t/quarter, respectively. But some of the lost volumes can be regained through the additional quota available on a first-come, first-served basis to suppliers from countries with country-specific quotas and with free-trade agreements (FTA) with the EU, once their country-specific quotas are exhausted, Turkish and European mill sources said. This residual quota, referred to as the Free Trade Agreement-Country Specific Quota (FTA-CSQ), allows another 39,700t of rebar and 31,700t of wire rod to be imported each quarter, and will effectively be shared between suppliers in Turkey, Ukraine, Algeria and Egypt. But suppliers do not yet have clarity on how exactly the quota will be administered. Another notable change in the long steel quota volumes is Egypt's allocation, which has been removed from the "other countries" category and increased by 30pc to 36,000 t/quarter for rebar and by 45pc to 21,600 t/quarter for wire rod. Algeria has similarly been given its own rebar quota, but its quarterly allocation is cut by 42pc to 15,900 t/quarter. The regulator has "left enough side doors to keep importers happy", an EU mill source said. The new measures are "not so bad for Turkey", a Turkish mill said. But traders who import material into the EU are still faced with 50pc out-of-quota duties, which raises their risk exposure significantly. China was also given its own rebar quota of 20,000t. The removal of several countries from the "other countries" category is another feature of this legislation that softens the blow of lower quota volumes and higher duties. But the quarterly "other countries" quotas are cut very sharply, to 15,800 t/quarter for rebar and 38,400 t/quarter for wire rod, with a negligible residual quota for rebar and a substantial 34,600 t/quarter for wire rod. By Brendan Kjellberg-Motton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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