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
Recent deep-sea and short-sea cfr Turkey scrap deals
Recent deep-sea and short-sea cfr Turkey scrap deals
London, 8 April (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 7-Apr 3,000 380 (80:20) April Samsun Bulgaria 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 2-Apr 35,000 400 (80:20) May Iskenderun USA HMS #1, P&S, shred Y 2-Apr 35,000 400 (80:20) May Izmir Cont.Europe HMS 1/2 75:25, P&S, shred Y 31-Mar 50,000 402 (80:20) May Marmara Canada HMS 1/2 95:5, P&S, shred Y Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran steel supply unlikely to benefit from ceasefire
Iran steel supply unlikely to benefit from ceasefire
London, 8 April (Argus) — Iran's steel production is unlikely to recover swiftly despite the announcement of a two-week ceasefire between the US and Iran late on Tuesday that could bring relief from higher energy prices and potentially enable shipping to resume through the strait of Hormuz. Damage to major Iranian steel producers Mobarakeh Steel and Khuzestan Steel after air strikes at the end of March have resulted in the companies halting production because of extensive damage to their plants. Repairs and the resumption of output is expected to take months, which is likely to tighten the supply of products to the semi-finished steel markets, to which both mills are large suppliers, with a combined production capacity of around 14mn t/yr. This could in turn keep slab and billet prices elevated — fob Asia slab prices have increased by $24/t since the end of February, while cfr Asean billet prices have risen by $30/t, according to Argus assessments. Iranian prices have also strengthened, with a deal concluding $26/t higher for April shipment compared with March-shipment prices. But the ceasefire announcement could bring some production cost relief in the form of lower energy prices, based on initial market reaction. European gas prices plunged at market opening on Wednesday, with front-month futures at Europe's benchmark Dutch TTF hub nearly 20pc lower, while the front-month Ice June Brent crude contract fell by around 16pc. Lower crude prices weighing on fuel oil markets and the prospect of shipping through the strait of Hormuz resuming could also benefit producers and exporters by pulling freight rates lower. Some steel producers in Asia and Europe, particularly of long products, raised prices throughout March because of higher energy costs, while a number of seaborne suppliers increased offers on a cfr basis to account for surging freight and logistics costs. The ceasefire has had no immediate impact on steel prices today, some traders said, but others noted that the euro strengthening against the US dollar has affected import prices — an offer at $700/t cfr would work out around €10/t lower at today's rate compared with the end of last week. "The risk [for Hormuz] to remain blocked is still too high if the ceasefire will be interrupted. So I guess shipowners will not accept cargoes from the Gulf," a trader said. By Lora Stoyanova Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India's Jindal Steel lifts syngas use on propane crunch
India's Jindal Steel lifts syngas use on propane crunch
Mumbai, 6 April (Argus) — Indian producer Jindal Steel has started using synthesis gas (syngas) at its galvanizing and colour coating units to offset natural gas and propane shortages, the company said today. Jindal was previously using syngas to produce direct-reduced iron (DRI), but has now extended its use to downstream operations, a spokesperson told Argus . The shift comes in response to shortages of natural gas and propane stemming from the US-Iran war, which has hampered India's coated steel production. Galvanizing — a process in which steel is coated with molten zinc to prevent corrosion — requires propane as a fuel source for furnaces. The gas crisis thus prompted several downstream steel producers, particularly smaller re-rollers, to curtail output and ration gas supplies . Jindal Steel commissioned the world's first coal gasification-based DRI plant at its Angul facility in 2014. The 1.8mn t/yr plant uses Swadeshi domestic coal to produce syngas for DRI. "Thanks to the coal gasification process [Jindal] initiated a decade ago, we have been able to successfully operate our galvanizing lines, colour coating lines, and heat treatment lines using syngas as a fuel," said V. R. Sharma, member of the advisory board at Jindal Steel. Jindal has also started injecting syngas into blast furnaces, reducing dependence on imported coking coal and lowering carbon emissions, the company said. Industry experts say India's vast coal reserves make it well suited for expanded coal gasification, bolstering energy security and aiding decarbonization efforts. The Indian government aims to gasify 100mn t of coal by 2030 under the National Coal Gasification Mission. By Amruta Khandekar Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US trade deficit widens in February
US trade deficit widens in February
Houston, 2 April (Argus) — The US trade deficit widened by 4.9pc in February as imports, including capital goods linked to the buildout of artificial intelligence (AI), grew faster than exports. The US trade deficit in goods and services rose to a seasonally adjusted $57.3bn in February from $54.7bn in January, the Bureau of Economic Analysis (BEA) reported Thursday. The deficit in goods rose to $84.6bn in February from $82.1bn in January, while the services surplus fell by $0.2bn to $27.3bn. Total US exports in February rose by 4.2pc to $314.8bn while imports rose by 4.3pc to $372.1bn. Exports of goods rose by $11.5bn to $206.9bn in February, led by shipments of non-monetary gold and industrial supplies including natural gas. Imports of goods rose by $14bn to $291.5bn in February, with capital goods imports up by $7.8bn and crude oil imports up by $1.1bn. "February's jump in imports was relatively broad-based, although imports of computer equipment and semiconductors leapt again, due to the ongoing surge in AI-related capex," Pantheon Macroeconomics said in a note. Exports of services increased by $1.2bn to $106.7bn, and services imports rose by $23bn to $79.3bn. Yearly trade gap shrinkage Still, the deficit in February shrank by more than half from $120bn a year earlier. But that could change with the Mideast Gulf war and the US high court's striking down President Donald Trump's tariffs. "The shake-up in tariff policy following the Supreme Court decision in late February, and disruptions to global supply chains due to the US-Iran war, could trigger more turbulence in the trade data," Oxford Economics' US economist Grace Zwemmer said in a note. The dollar index has climbed from 99.3 on 27 February, the day before the US-Israel war on Iran began, to 99.9 on Thursday, although it is down from 103.7 in early April last year. A stronger dollar makes US imports cheaper, while making exports less competitive. The US trade deficit edged higher to $911bn last year from $904bn in 2024, with the goods deficit rising to $1.24 trillion in 2025 from $1.215 trillion the prior year. Petroleum trade slows US exports of crude and petroleum products, including natural gas liquids, fuel oil and others on an end-use basis, totaled $20.6bn in February, little changed on the month, with imports at $16.8bn in February, up from 15.5bn in January, the report said. Exports of crude averaged 4.3mn b/d in February, up from 3.9mn b/d in January, with imports at 6.35mn b/d in February from 6.1mn b/d in January. Partners The US had a $16.5bn seasonally adjusted deficit with Vietnam in February, a $16.8bn shortfall with Mexico and a $13.1bn deficit with China. The US ran a $5.1bn deficit with the EU and a $7.6bn deficit with South Korea, a $4.7bn deficit with Japan and a $3.2bn shortfall with Germany. The US deficit with Canada narrowed to $741mn in February from January. The US had a $5.6bn surplus with the UK, a $6.8bn surplus with the Netherlands and a $3.8bn surplus with central and south America that included a $1.5bn surplus with Brazil in February. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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