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US consumer price inflation steady at 2.7pc in Dec
US consumer price inflation steady at 2.7pc in Dec
Houston, 13 January (Argus) — US consumer inflation held steady in December as gasoline prices fell and food increases accelerated, the Bureau of Labor Statistics reported today. The consumer price index (CPI) rose at a 2.7pc annual rate in December, unchanged from November and in line with expectations in a Trading Economics survey of analysts. Core prices, which strip out volatile food and energy, rose at 2.6pc pace in December, also unchanged from the prior month. CPI peaked in 2025 at 3pc in September and in 2024 at 3.5pc in March. Inflation has gradually slowed as the US Federal Reserve has kept interest rates relatively elevated, prompting President Donald Trump to frequently deride Fed chair Jerome Powell for being "too slow" to cut rates. The US Justice Department on Friday launched a criminal investigation of Powell for his testimony before the Senate Banking Committee in June about renovations to Fed office buildings. Powell, in a statement posted online Sunday, said the threat of criminal charges stems from the Fed "setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president". On a monthly basis, prices rose in December by 0.3pc seasonally adjusted, following no changes in the prior two months. The CME FedWatch tool showed a 97.2pc probability the Federal Reserve will hold its target rate unchanged at its meeting at the end of the month. A week ago, odds of holding rates steady were 82.3pc with a 17.7pc probability for a quarter-point cut. Gasoline prices drop Energy prices rose by 2.3pc in December, compared with a 4.2pc annual gain in November. Gasoline prices fell at a 3.4pc annual pace after rising by 0.9pc in November, while piped gas services rose by 10.8pc annually in December following a 9.1pc gain in the prior month. US food price increases accelerated to a 3.1pc pace in December from an annual 2.6pc gain in November. Shelter rose by 3.2pc, up from 3pc in the prior month. Services less energy services, a measure of core services prices, rose by 3pc, also unchanged from the prior month. Prices for used cars and trucks rose at a 1.6pc annual pace in December, slowing from a 3.6pc gain in November. New car prices rose at a 0.3pc pace, slowing from a 0.6pc annual gain in November. Medical care services rose at a 3.5pc annual pace in December, accelerating from a 3.3pc gain in the prior month. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Vietnam's ferrous scrap imports rise in 2025
Vietnam's ferrous scrap imports rise in 2025
Shanghai, 13 January (Argus) — Vietnam's ferrous scrap imports surged to a more than four-year high in December, supported by active year-end restocking demand. The country imported 684,000t of ferrous scrap in December, up by 59pc from November and by 14pc year on year, Vietnam Customs data show. Scrap imports totalled 6.25mn t in 2025, marking a 27pc increase from 2024 and only slightly below the levels recorded in 2020-21. Japanese material continued to dominate Vietnam's scrap imports, accounting for more than half of total arrivals. Vietnamese mills imported 3.3mn t of scrap from Japan in 2025, up by 26pc from the previous year. Japanese sellers are expected to continue prioritising the Vietnamese market, supported by the country's expanding steelmaking capacity and construction demand. Imports from the US rose sharply on the year, increasing by 56pc to 788,000t. The growth was partly driven by a low base in the previous year, as well as mid-year buying of deep-sea bulk scrap by some Vietnamese mills. Demand for containerised US scrap also increased, given that smaller mills favoured flexible, smaller-lot cargoes to bridge gaps in domestic supply. Scrap imports from Singapore tripled on the year to 239,000t, reflecting Vietnamese mills' efforts to diversify supply sources in order to manage purchasing costs and ensure supply stability. Hong Kong was the only major supplier to record a year-on-year decline in 2025, with imports falling by 33pc on the year to 374,000t. Ferrous scrap exports from Hong Kong retreated during the year, as exporters diverted more volumes to Bangladesh and India, where prices were more workable. Vietnamese mills' scrap consumption is expected to grow further in 2026. Vietnam's economy maintained strong momentum in 2025 despite pressure from US tariffs, with GDP expanding by 8pc. Continued government investment in infrastructure and public housing, rising industrial activity, and sustained inflows of foreign investment will provide further support for steel production and scrap demand in 2026. Vietnam ferrous scrap imports t Dec '25 m-o-m ± % y-o-y ± % Jan-Dec '25 y-o-y ± % Japan 327,892 61 -8.5 3,295,631 26.3 US 98,725 139.5 109.4 788,146 55.6 Australia 64,942 140.5 96.3 369,525 8.7 Hong Kong 46,470 158.1 13.3 374,373 -32.7 Others 145,825 4.2 19 1,426,781 52.9 Total 683,854 59.1 13.6 6,254,456 26.5 Source: Vietnam Customs Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s Abbot Point coal port to start post-cyclone
Australia’s Abbot Point coal port to start post-cyclone
Sydney, 12 January (Argus) — The Abbot Point coal port in northern Queensland — Australia's main coking coal-producing region — will resume normal operations on 13 January, following a week of weather-related disruptions. The coal export hub was undamaged by Tropical Cyclone Koji, an Abbot Point Operations spokesperson told Argus on 12 January. Cyclone Koji made landfall in Queensland on 11 January, flooding parts of the state. It hovered off the Australian coast over the previous week, limiting vessel movements. Panamanian-flagged NSU Newstar is scheduled to depart Abbot Point on 14 January, data from Maritime Safety Queensland show. No ships have left the port since 8 January, when the Japanese-flagged Double Delight departed with 46,033t of coal, data from marine tracker Kpler show. Most vessels at Abbot Point's anchorages left on 10 January before returning on 11 January, Maritime Safety Queensland data indicate. Abbot Point Port is the smallest of Queensland's three northern coal ports. It handled 31mn t of coal in January-November 2025, accounting for about 27pc of the region's coal shipments. Queensland's larger northern ports have also faced disruptions over the last week. The Dalrymple Bay Coal Terminal stopped berthing vessels on 6 January because of weather issues and has yet to resume operations. Weather-related disruptions haver also affected Queensland's rail and road links over the past week. The Mount Isa rail line — which primarily supports fertiliser, copper, and zinc movements — remains closed because of flood damage, Queensland Rail told Argus . By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Floods disrupt Australian Cu, fertiliser exports
Floods disrupt Australian Cu, fertiliser exports
Sydney, 12 January (Argus) — Severe flooding in Queensland has crippled key transport routes, halting copper, zinc, and fertiliser exports from one of Australia's major mining hubs. Australia's Mount Isa rail line — which supports the transport of fertiliser, copper, and zinc — remains closed due to weather-related damaged following multiple floods in late December and January. Water levels along the line are slowly receding, and major recovery works are underway, Queensland Rail told Argus on 12 January. The operator first closed parts of the Mount Isa line on 29 December because of heavy rainfall. Weather-related road and rail disruptions have impacted global producer Glencore's ability to move copper concentrate to its Mount Isa smelter by road and rail, a spokesperson told Argus . The Mount Isa line has faced disruptions before. Three locomotives and a wagon carrying copper and zinc from Glencore's Mount Isa operations derailed on 5 December 2025, triggering a three-day shutdown. Queensland Rail also closed the line for 11 days in February 2025 due to severe flood-related damage following weeks of heavy rain. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.