Steel raw materials
Complete mine-to-mill steel raw materials coverage featuring daily pricing, forecasts, news and expert analysis.
Overview
Argus provides comprehensive and independent coverage of global steelmaking raw materials markets, delivering trusted price assessments, market intelligence and analysis across iron ore, coking coal, pig iron and other critical inputs used in blast‑furnace and electric‑arc‑furnace production, supporting cost visibility and stronger insight across the steel production process.
Argus provides steelmakers, miners and traders with robust visibility into raw material cost formation across the steel production lifecycle. Daily assessments and analysis capture supply fundamentals, international trade flows, mill buying patterns as reflected in physical transactions, tenders and spot market activity, and the key pricing drivers influencing iron ore, metallurgical coal and ferrous feedstocks. This is supported by a broad set of proprietary datasets, including iron ore shipment tracking, mine project intelligence, and Asia‑Pacific coking coal and PCI deal coverage, enabling clearer insight into upstream supply conditions that shape steelmaking costs and margins.
As part of the Argus Steelmaking Raw Materials service, all benchmark prices and supplementary datasets are integrated to give clients a cohesive, end‑to‑end view of raw material markets. The service includes a suite of established benchmark indices relied upon by miners, steel mills, traders and financial participants. Key assessments include the ICX 62% Fe and ICX 61% Fe iron ore indices, the Argus Asia‑Pacific Coking Coal benchmark and the US Coking Coal price assessments—core reference points used for physical contracting, indexation and risk management across global metallurgical coal and iron ore markets. These benchmarks are complemented by Argus pricing for international ferrous scrap (available in Argus Scrap Markets), pig iron, green steel production cost calculations, and the Argus Steelmaking Raw Materials Outlook helping support strategic sourcing, hedging strategies and cost‑modeling across the global ferrous industry.
Stay ahead of the ferrous metal markets
To be informed of relevant content, sign up to Argus Ferrous Market Highlights. Each newsletter issue provides key prices, selected news, downloadable insight papers, podcasts, and on-demand videos across the global ferrous markets. Our coverage spans steelmaking raw material markets, including coking coal and iron ore, steel markets, including flat, long and semi-finished, as well as line pipe and OCTG markets.
Sign up nowLatest steel raw materials news
Browse the latest market moving news on the steel raw materials industry
Q&A: Growth and challenges for the Ta, Nb industry
Q&A: Growth and challenges for the Ta, Nb industry
London, 18 August (Argus) — Surging consumption in the advanced electronics, artificial intelligence (AI) and aerospace industries has driven strong growth in tantalum and niobium demand this year. But this surge has come at a time when supply chains are already strained by non-state armed groups capturing key mining areas in the Democratic Republic of Congo, which has made traceability a much bigger challenge. Argus spoke to industry association the Tantalum-Niobium International Study Centre (TIC) president Silvana Fehling, who is also Germany-based producer Taniobis' senior director of materials management. Argus asked her about the outlook for the tantalum and niobium industry, the challenges facing supply chains and the importance of independent due diligence. Argus also asked about the industry's reaction to China's decision to sanction US-based industry coalition the Responsible Business Alliance (RBA), but the TIC was unable to comment at the time. In which sectors do you see the biggest growth for tantalum and niobium demand? We will see growth across many areas rather than one single sector. For tantalum, electronics will remain very important, particularly tantalum capacitors. But we also see growing demand linked to high-performance electronics such as semiconductors, because of demand from data centres and other advanced technologies. AI is definitely something that is a big driver for our industry right now. Data centres need a huge amount of very reliable and corrosion-resistant tantalum capacitors. For niobium, I think the picture is a bit broader. Steel remains a very dominant and important market, but niobium has also become more important for other industries. It is expanding into aerospace, energy applications and additive manufacturing. How do you think the industry will be able to accommodate the surge in tantalum demand from technology applications? The industry will have to do three things — increase capacity, diversify supply and improve efficiency. Increasing capacity is quite clear. Start developing a mine, investing in mine processing or refining. We are lagging a bit behind on this, but we clearly see more focus is on investing into capacities. Secondly, customers are looking for more diversified and resilient supply chains. This means looking at different regions and trying to work with different sources. And on improving efficiency, I think mining companies, refiners and producers will improve communication and transparency to improve efficiency in the supply chain and have better outcomes. Could you explain more about how the industry can diversify tantalum supply? Artisanal mining will remain an important part of the tantalum supply chain. It is contributing volume-wise but it is also generating income for the people in central Africa and it is able to quickly adjust to demand from the market. In terms of expanding or finding new capacity, in the past there were a lot of projects and mines that were not possible to run economically. Lithium by-product projects have been part of that discussion for a long time but have not made much economic sense. But we see that governments are focused more on critical minerals, and that there are corporations within totally different industries looking into new streams of recycling, regaining or trying to recover from residues. This is definitely something where I think we will see additional supply in the future. There are also regions that were not so competitive cost-wise in the past. Canada, for example, which has had a combination of problems such as environmental and cost structure. Having strong demand and better margins for tantalum and niobium mining firms will mean projects that were less attractive in the past might become more attractive. You say that central Africa will remain part of the supply base, but how is the industry adapting to the security situation in the DRC? This is one of the most common issues for our industry. We must make sure that our supply chains do not contribute to conflict or serious human rights abuses, and our focus is on helping to build transparent supply chains. But the solution is not moving away from that region. We must make sure that we get traceable, reliable and transparent systems in place and do the due diligence that allows us still to use some proportion of material from that region. There have been questions about reliability around using established third-party systems such as the International Tin Supply Chain Initiative. But in the past few years, refiners and stakeholders have had time to work on and develop confidence in their own systems. The industry is still using third parties as a supporting tool but is not relying exclusively on these parties. At the TIC, we support our members in their due diligence efforts with know-how and the advanced due diligence handbook. But in the end, due diligence remains the responsibility of each company participating in this market. H ow is the industry responding to wider geopolitical tensions and trade barriers that have targeted critical minerals in recent years? Trade restrictions can create opportunities and challenges. It may encourage new investments and diversification, but it can also increase costs and uncertainty in the short term. The TIC is a global organisation with members all over the world, trying to offer a neutral platform for dialogue between different regions. Therefore, our focus is always on helping our members grow the market and develop new applications. Ours is a global industry, working with global materials. Tantalum and niobium are mined in one region, processed in a totally different one and finished in another region. So I would say, do not touch on politics and stick to business. By Sian Morris Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Alcoa, Australia's Equus ink 10-year gas sales deal
US' Alcoa, Australia's Equus ink 10-year gas sales deal
Sydney, 14 August (Argus) — Australian gas developer Equus Energy has signed a binding 10-year gas sales agreement (GSA) with global aluminium producer Alcoa to supply gas from the planned Equus project offshore Western Australia to Alcoa. Equus will provide 50 TJ/d of gas to Alcoa, equivalent to 182PJ over the term of the deal, the company said on 14 August. Alcoa will use the supplies to power its expanding portfolio of Western Australia-based (WA) alumina refineries. In return, Alcoa will provide advance payment of $30mn to complete a front-end engineering design (Feed) study for the Equus project in Western Australia's North West Shelf region. The funding will cover project costs until it reaches a final investment decision (FID), Equus said. It did not specify a timeline for the FID. Equus, which was known as Western Gas until December 2025, completed a pre-Feed study for the Equus project in May, confirming project design of 50 TJ/d of domestic gas, 2mn t/yr of LNG for export markets, and 12,000 b/d of condensate production over a 15-year project life. The project will address a peak day gas supply shortfall in Western Australia and will represent 5pc of the Western Australian domestic gas market upon completion, Equus said. Annual peak day gas demand in Western Australia is set to increase from 2026 by 36pc to 558 TJ/d in 2035 with the winter season recording the highest demand levels, according to the Australian Energy Market Operator's (Aemo) 2025 Western Australian Gas Statement of Opportunities . This is despite an expected decline in overall annual gas consumption over the same period due to increased large-scale wind and solar generation, Aemo said. The deal with Alcoa will fully satisfy Equus' commitments under Western Australia's domestic gas reservation policy, the company said. The reservation policy mandates that Western Australia-based gas producers retain at least 15pc of production for sale in the domestic market over a project's life. Alcoa operates the 30.5mn t/yr bauxite mine and the 4.2mn t/yr Pinjarra and 2.85mn t/yr Wagerup alumina refineries in Western Australia. Alcoa bought most of Australian mining company South32's aluminium supply chain stakes in June, including the 37mn t/yr Worsley bauxite mine and 4.4mn t/yr Worsley alumina refinery in Western Asutralia. Alcoa signed a three-year gas sales agreement with Australian independent Woodside Energy for 31.1PJ in June, which will begin in 2027. The company also secured a 10-year gas sales agreement with LNG operator Chevron in December 2024 for 130PJ, starting from 2028. This has built on Alcoa's existing 10-year gas sales agreements with Chevron, ExxonMobil and Australian independent Warrego Energy for a total of 198PJ of gas to its alumina refineries in Western Australia, starting in 2024. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
2A expanding aluminum die-cast ops in Alabama
2A expanding aluminum die-cast ops in Alabama
Houston, 13 August (Argus) — High-pressure aluminum die-caster 2A USA plans to increase production capacity through a $32mn expansion at its manufacturing facility in Auburn, Alabama. The project will add casting and machining capabilities for "complex and large aluminum components" used in heavy-duty trucks, Alabama governor Kay Ivey said on Wednesday. Neither a construction timeline nor details about how much output would grow were disclosed. 2A USA's plans come as the US has sought to increase domestic manufacturing through trade policies, which have included global import tariffs on both aluminum products and heavy-duty trucks . The White House currently is seeking to tighten minimum US-origin content requirements for products covered under the US-Mexico-Canada free trade agreement, as part of its efforts to renegotiate the pact. The company, which is the North American segment of Italy-based 2A, acquired the Auburn facility in 2014 and has continually invested in its operations there, including a $15mn expansion in 2019. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Nucor to expand downstream Indiana steel plant
Nucor to expand downstream Indiana steel plant
Pittsburgh, 13 August (Argus) — US steelmaker Nucor plans to add steel grating production capabilities at its downstream Vulcraft facility in St Joe, Indiana, broadening its product offerings. The $59mn project marks Nucor's fourth major investment in Indiana in recent years. Vulcraft makes open-web steel joists, joist girders and steel decking, which are used mainly in non-residential construction. The plant has about 1.2mn short tons of annual joist and deck production capacity. By Brad MacAulay Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Quota access outweighs CBAM costs in EU import decisions
Understand the real drivers of EU steel imports
Steelmaking Materials Outlook: Iron Ore and Met Coal 2026
Supply-heavy markets meet cost inflation, geopolitics and tactical buying
Hormuz closure shuts key China steel export release valve
Impact of the Middle East war on Steel markets
Explore our steel raw materials products
The Argus ferrous portfolio includes over 1,600 assessments and delivers unbiased price data, reports and market commentary from across coking coal, iron ore, ferrous scrap, steel and relevant freight rates.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.