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Argus’ comprehensive coverage of the global ferrous markets provide independent price assessments, news and market analysis for iron ore, coking coal, ferrous scrap, pig iron and steel.
Our global team of experts in China, Singapore, the UK and US deliver over 300 domestic and seaborne price assessments along with detailed market commentary on a daily basis to ensure our clients have complete mine to mill price coverage.
The ferrous portfolio includes established Argus price indices for 62pc and 65pc iron ore fines, Turkish ferrous scrap imports, and our fob Australia and cfr China premium hard coking coal indices.
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Brazil steel output may fall in 2026: Aco Brasil
Brazil steel output may fall in 2026: Aco Brasil
Sao Paulo, 16 December (Argus) — Brazilian steel output may drop in 2026 as lower-priced imports keep pressure on the domestic market, industry chamber Aco Brasil said. The country's steel output will fall to 32.4mn metric tonnes(t) in 2026, down by 2.2pc from a year earlier, driven by a 10pc climb in imports to 6.6mn t in the period. These figures exclude the effects of anti-dumping duties expected to take effect in the first half of the year, Aco Brasil said. "Our mills are operating at a 66pc capacity rate because of predatory imports, but we should be at around 80–85pc output capacity", Aco's executive president Marco Polo de Mello Lopes said in a press conference on 16 December. Imports will also weigh on domestic sales, with shipments expected to decline to 20.8mn t next year, down by 1.7pc from 2025, the association said. Imports are expected to reach a record 6.6mn t, up by 3.9pc from the previous all-time high of 6.4mn t projected for 2025, Aco Brasil said. Apparent consumption, the sum of production and imports minus exports, will increase by 1pc on the year to 27mn t in 2026, mainly driven by rising import levels. Revised 2025 projections The chamber has cut its 2025 projection for import growth from 19pc to 7.5pc because domestic price declines are curbing a sharper rise in foreign metal. The revised outlook now sees rolled steel imports at 5.7mn t, up by 20pc instead of the previously estimated 32pc. Imports have already hit an all-time high of 6mn year-to-date November 2025, up by 7pc year on year. Total import volumes may increase to 6.4mn t by year-end, according to Aco Brasil. Despite reaching record levels, import inflows lost traction in the second half of the year. As a result, Aco Brasil's initial projection of 7mn t in imports for the year will likely fail to materialize. In addition to price declines, Brazil's quota policy helped reduce import volumes, sources told Argus . The regime imposes a 25pc tariff on volumes that exceed the quota threshold for 19 rolled steel products. Importers also became wary of anti-dumping duties set to take effect in a couple of months. Seaborne trade has become riskier, as duties of up to $600/t could apply upon discharge at Brazilian ports, market participants said. New anti-dumping duties could reverse import growth, with volumes likely to fall instead of rise if the measures take effect. Whether this will be enough to lift production levels remains uncertain. Aco Brasil has also revised its 2025 output outlook, now projecting a 2.2pc drop to 33.1mn t, compared with a previous estimate of a 0.8pc decline to 33.6mn t. Production cuts deepened despite imports falling short of expectations throughout the year, suggesting that factors beyond imports may be driving the reduction. By Isabel Filgueiras Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Recent deep-sea and short-sea cfr Turkey scrap deals
Recent deep-sea and short-sea cfr Turkey scrap deals
London, 16 December (Argus) — A summary of the most recent deep-sea and short-sea cfr Turkey ferrous scrap deals seen by Argus. Ferrous scrap short-sea trades (average composition price, cif Marmara) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 10-Dec 3,000 349 (80:20) December Marmara Romania HMS 1/2 80:20 Y 8-Dec 5,000 355 (80:20) December Izmir Adriatic HMS 1/2 80:20 Y Ferrous scrap deep-sea trades (average composition price, cfr Turkey) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 11-Dec 30,000 360 (80:20) January Marmara Cont Europe HMS 1/2 80:20, shred N 10-Dec 20,000 356 (80:20) January Marmara UK HMS 1/2 80:20, shred N 9-Dec 30,000 362.50 (80:20) January Marmara Cont Europe HMS 1/2 80:20 Y 5-Dec 30,000 367 (80:20) January Izmir Cont Europe HMS 1/2 80:20 N 5-Dec 40,000 370 (80:20) January Iskdenderun USA HMS 1/2 80:20, shred N 2-Dec 30,000 360 (80:20) January Izmir Cont Europe HMS 1/2 80:20, shred Y 2-Dec 30,000 362 (80:20) January Izmir Cont Europe HMS 1/2 80:20, shred, P&S Y 2-Dec 40,000 368 (80:20) January Izmir USA HMS 1/2 80:20, shred Y 2-Dec 40,000 365 (80:20) January Iskdenderun Baltics HMS 1/2 80:20, shred, P&S Y 1-Dec 30,000 358 (80:20) January Marmara UK HMS 1/2 80:20, shred, bonus, new cuttings Y Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US adds 64,000 jobs in November, jobless rate climbs
US adds 64,000 jobs in November, jobless rate climbs
Houston, 16 December (Argus) — The US added more jobs than expected in November after sharp losses in October fueled by government job cuts, while the unemployment rate rose to its highest in four years. The US added 64,000 nonfarm jobs in November, more than the 50,000 anticipated by economists surveyed by Trading Economics. The unemployment rate rose to 4.6pc, up from 4.4pc in September and the highest since September 2021, the Bureau of Labor Statistics (BLS) reported. The US lost 105,000 jobs in October, largely due to earlier federal job cuts, according to data that had been delayed because of the 43-day government shutdown that ended on 12 November. Job creation in November was largely in line with average growth since April, BLS said, marking an ongoing slowdown in hiring from earlier in the year. "The labor market remains weak, but the pace of deterioration probably is too slow to spur the [Federal Reserve's Federal Open Market Committee] FOMC to ease again in January," Pantheon Macroeconomics said in a note after the report was released. After the report, CME's FedWatch Tool showed a 26.6pc probability the FOMC will cut its target rate by a quarter point at its next meeting in January, compared with 24.4pc odds on Monday. The FOMC cut its target rate by a quarter point last week to 3.5-3.75pc, its third such cut of the year, and it penciled in only one such cut each for 2026 and 2027. Employment rose in health care and construction in November. Federal government jobs fell by 6,000 in November, following estimated job losses of 162,000 in October, as some employees who accepted deferred resignation came off payrolls. Federal government employment was down by 271,000 from a peak in January after the administration of President Donald Trump began slashing jobs as part of his effort to cut the federal workforce, even as courts and federal unions pushed back, delaying and limiting the impacts. Manufacturing lost 5,000 jobs in November following losses of 9,000 in October, BLS said. Transportation and warehousing lost 18,000 jobs in November. Leisure and hospitality lost 12,000 jobs after gains of 16,000 in October. Construction added 28,000 jobs in November. Mining and construction lost 4,000 jobs in November. Changes in nonfarm job growth for August and September were revised lower by a combined 33,000 jobs, with September revised down to 108,000 jobs added from 119,000 in the initial estimate. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Canadian authorities approve Anglo, Teck mining merger
Canadian authorities approve Anglo, Teck mining merger
Sydney, 16 December (Argus) — Canadian regulators have approved the merger of UK-South African producer Anglo American and Canadian producer Teck Resources, allowing the pair to form a Canadian-based global iron ore, copper, zinc, and coking coal business. Anglo Teck — the merged firm — will spend C$4.5bn ($3.3bn) in Canada over the next five years and C$10bn over 15 years under binding Investment Canada Act commitments, Anglo American told investors on 16 December. The merged firm's short-term spending will support germanium, copper, and other critical mineral projects (see table) , as well as research and community projects. Anglo Teck will also hold its Canadian employment levels constant for an unspecified period and list itself on the Toronto Stock Exchange, Anglo American said. Anglo American and Teck Resources shareholders approved the $53bn merger on 11 December. But the deal still faces competition reviews in multiple countries, where the two firms operate. Anglo Teck will be a top five global copper producer, Teck Resources' chief executive Jonathan Price said on 9 September, when he announced the deal. Teck Resources plans to produce 415,000-465,000t of copper , 525,000-575,000t of zinc, 3,500–4,800t of molybdenum, and other metals in 2025, it said on 8 October. Anglo American also plans to produce 690,000–750,000t of copper and 57mn–61mn t of iron ore over the year. Anglo American intends to advance plans to divest from its diamond, coking coal, and nickel businesses before the deal closes, a move supported by Teck Resources. US producer Peabody Energy pulled out of a $3.8bn deal to buy Anglo American's Australian coking coal assets in August. Anglo Teck's merger approval also comes less than a month after Australian producer BHP submitted and withdrew an offer to buy Anglo American. By Avinash Govind Anglo Teck's spending commitments Commitment Value* (C$mn) Mineral Proceed with Highland Valley Copper Mine Life Extension 2100 - 2400 Copper Enhance critical minerals processing capacity at Teck's Trail Operations 850 Germanium and other critical minerals Develop Galore Creek and Schaft Creek copper projects 750 Copper Support Canadian critical mienral exploration and junior miners 300 Critical Minerals Maintain and enhance commitments to Indigenous governments, communities, conservation, and other initiatives 200 - Establish Global Institute for Critical Minerals Research and Innvoation 100 Critical Minerals Continue and maintain Teck's remediation and reclamation activities Copper Explore increasing copper production at Trail Operations and building a copper smelter in British Columbia Copper *Spending up to Anglo American Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
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