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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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India revises EV incentives to focus on performance
India revises EV incentives to focus on performance
Mumbai, 15 January (Argus) — India has revised its policy for the electric vehicle sector as it enters a more mature phase of EV transition and focuses on efficiency and cost control. From 13 January only those EVs that meet performance and efficiency requirements will qualify for incentives. The change marks a shift from volume-driven subsidies toward performance-based incentives. The requirements include a minimum 80km driving range, a top speed of 40 km/h, regenerative braking systems and standardised energy-consumption testing. Under this change, the production-linked incentive (PLI) auto scheme has been aligned with the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-drive) scheme. The PM e-drive scheme offers immediate discounts on two- and three-wheel vehicles and provides financial incentives for establishing EV charging stations. The government has allocated 20bn rupees ($237.7mn) to support companies installing fast charging stations for two- and three-wheelers. The PM e-drive scheme runs until March 2028, but subsidies for electric two- and three-wheelers will stop in March 2026. Support for electric buses, trucks, ambulances, along with charging stations and testing centres, will continue through the scheme because encouraging widespread adoption is still difficult and requires significant investment. Strong EV sales in in 2025 supported this shift in policy, with over 2.3mn units sold during the year from around 2.02mn in 2024. Around 8pc of the total number of new vehicles including two-, three- and four-wheelers were registered in 2025, government data show. Sales of electric two- and three-wheelers and buses are rising quickly in major cities, showing rapid growth in public transport electrification. This adoption level has strengthened the government's confidence that the sector can sustain growth even with more demanding quality and efficiency requirements for EV manufacturing. On the manufacturing side, the PLI scheme facilitated the production of 1.39mn EVs, comprising 1.04mn electric two-wheelers, 238,385 electric three-wheelers, 79,540 electric four-wheelers, and 1,391 electric buses as of end 2025. The scheme was approved in September 2021 and will run until March 2028 with a budget of Rs259.38bn. Although some car part manufacturers may face higher expenses due to upgrades required by the new standards, the majority of vehicle producers are expected to gain advantage from the policy change. The industry is also gradually aligning with the government's localisation objectives, progress in domestic value-addition certification shows. The tightening of EV norms reflects growing confidence in India's electric mobility ecosystem and a clear policy intent to prioritise quality, efficiency and self-reliance. The changes are expected to support a more sustainable and resilient EV market aligned with India's long-term goals of achieving 50pc EV penetration by 2030 and net-zero emissions by 2070. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Weather disrupts Australian copper, coal logistics
Weather disrupts Australian copper, coal logistics
Sydney, 15 January (Argus) — Australian coal and copper producers have continued to face weather-related challenges in Queensland, including transport closures in the mineral-rich state. Road and rail disruptions have limited global producer Glencore's ability to supply copper concentrate to its smelter for multiple days. These disruptions are ongoing, a spokesperson told Argus today. Parts of the Mount Isa rail line — which supports Glencore and other metal and fertilizer producers — remain closed because of weeks of rainfall, Australian rail operator Queensland Rail said on 14 January. The operator is meeting regularly with freight operators to support load management, it added. Queensland Rail is unable to confirm a timeline for the resumption of operations at the Mount Isa line, Queensland Rail's head of regional Scott Cornish said. Glencore is also facing disruptions at its Hails Creek and Collinsville mixed thermal and coking coal mines, and its Clermont thermal coal mine. Australian producer Pembroke Resources is also facing weather-related disruptions. The firm declared force majeure on some coal shipments on 15 January because recent weather events have stopped it from mining, according to market sources. Australian coal producers M Resources and Stanmore and Swiss-based AMCI also declared force majeure on Queensland shipments earlier this week because of supply chain disruptions. Some Queensland coal operators have been less impacted by the wet weather. The BHP Mitsubishi Alliance's mines in the state are operating and it has wet weather plans in place, a BHP spokesperson told Argus on 15 January. The Central Queensland Coal Network — which links coal mines in the state to export ports — is also open and operational with some minor isolated restrictions in place, Australian rail operator Aurizon told Argus . Argus ' metallurgical coal premium hard low-volatile fob Australia price has increased over the past week because of the weather events in Queensland. It was last assessed at $232.95/t on 14 January, up from $218.75/t on 7 January. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia's BHP, Rio Tinto partner on iron ore projects
Australia's BHP, Rio Tinto partner on iron ore projects
Sydney, 15 January (Argus) — Australian iron ore producer BHP and producer Rio Tinto will partner on mine and ore processing projects to boost their joint production capacity by up to 200mn t/yr under a pair of initial agreements. BHP and Rio Tinto could collaborate to mine ore at Rio Tinto's Wunbye deposit and process ore from BHP's Yandi Lower Channel deposit, according to the non-binding deals signed on 15 January. Both deposits are in Western Australia's Pilbara region. The partnership is subject to final investment decisions from both companies, regulatory approvals and Traditional Owner engagement, the companies said. They expect to achieve first ore from the two deposits in the early 2030s, they added. The deal will extend the life of Rio Tinto's Yandicoogina project — which houses Wunbye — and BHP's Yandi project, create additional value and support local jobs and communities, Rio Tinto's iron ore chief executive officer Matthew Holcz said. BHP produced 3.5mn t of saleable ore at Yandi in July–September 2025, down by 21pc on the year. Its initial deals with Rio Tinto have no impact on existing plans to cut production at the mining hub, a BHP spokesperson confirmed to Argus . Rio Tinto sold 10.8mn t of Yangicoogina Fines in July–September 2025, down by 8.7pc on the year. The company's deals with BHP come after it expanded multiple joint venture investments in 2025. It partnered with Australian producer Hancock Prospecting to invest $1.6bn into their Hope Downs joint venture in Western Australia. It also plans to develop new deposits at its Robe Valley joint venture and achieve first ore at its Rhodes Ridge joint venture project by 2030. Rio Tinto may soon form another major partnership. The company is in early discussions with global producer Glencore over a partial or complete merger. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. 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, 14 January (Argus) — A summary of the most recent deep-sea and short-sea cfr Turkey ferrous scrap deals seen by Argus. Ferrous scrap deep-sea trades (average composition price, cfr Turkey) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 14-Jan 30,000 367 (80:20) February Iskenderun UK HMS 1/2 80:20, bonus, shred Y 13-Jan 40,000 368 (80:20) February Marmara UK HMS 1/2 80:20, bonus Y 9-Jan 40,000 373 (80:20) February Marmara USA HMS 1/2 80:20, bonus, shred Y 8-Jan 40,000 371 (80:20) February Samsun Scandinavia HMS 1/2 80:20, bonus, shred Y 8-Jan 40,000 369 (80:20) February Izmir Cont.Europe HMS 1/2 80:20, bonus, shred Y 8-Jan 40,000 369 (80:20) February Izmir Baltics HMS 1/2 80:20, bonus, shred Y 6-Jan 25,000 362.50 (80:20) February Iskenderun UK HMS 1/2 80:20 Y 6-Jan 40,000 371 (80:20) February Marmara Baltics HMS 1/2 80:20, bonus Y 2-Jan 40,000 372 (80:20) February Izmir USA HMS 1/2 80:20, bonus, shred N 2-Jan 40,000 371 (80:20) February Iskenderun USA HMS 1/2 80:20, bonus, shred N Ferrous scrap short-sea trades (average composition price, cif Marmara) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 29-Dec 3,000 352 (80:20) January Izmir Romania HMS 1/2 80:20 Y Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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