Specialty and minor metals
Overview
As demand for semi-conductors, touch-screens and other highly engineered products continues to grow, manufactures rely on the Argus metals price data and reliable market intelligence to track volatility and specialty materials and manage their impact on production costs.
Argus covers electronic, light and high-temperature metals, as well as specialist alloys and rare earths, through Argus Non-Ferrous Markets, Argus Battery Materials and the Argus Rare Earths Analytics service.
Electronic metals
Argus delivers transparent price data, market news and analysis across base metals, minor metals and battery materials to allow downstream participants to achieve a sustainable supply of electronic metals and reduce their exposure to price risk, all while researching and tracking individual materials in their components.
- Arsenic prices
- Bismuth prices
- Gallium prices
- Germanium prices
- Indium prices
- Selenium prices
- Tantalum prices
- Tellurium prices
- Zirconium prices
Light metals
Argus is the leader in light metals price data and serves the most active consuming regions globally in aerospace, automotive and other highly engineered industries. Manufacturers of alloyed materials and light metals benefit from both primary and scrap material coverage in the Argus suite of products.
High-temperature metals
Some materials necessitate higher temperature and corrosion resistance beyond that offered by carbon steel, these often rely on a proprietary blend of alloyed materials. Argus worked closely with manufacturers to develop the Alloy Calculator tool, a one-stop solution for estimating the current value of raw materials in their specific composition to price even the most specific blends of alloys to be priced in primary and scrap form.
- Chromium prices
- Cobalt prices
- Hafnium prices
- Molybdenum prices
- Niobium prices
- Rhenium prices
- Tantalum prices
- Tungsten prices
- Tungsten outlooks
- Vanadium prices
Highlights of specialty metals coverage
- Independent reference prices for highly illiquid markets and niche materials
- Brings transparency to markets with few global suppliers but increasing global demand
- Exchange data with 30-minute delay standard and the option to add real-time
- Twice weekly global bulk alloys, noble alloys and steel feedstock prices
- Comprehensive global electronic metals price assessments
- High-temperature metals price assessments, including full scope of tungsten coverage with optional short and long-term forecasting
- Light metals including a suite of titanium and aerospace-grade price assessments
- Rare earths prices assessments with short and long-term forecasts
- Electronic vehicle and aerospace raw materials coverage, including highly engineered components and structural materials
- Coverage of supply chain issues, including demand, capacity, risks to responsible sourcing and supply
- Alloy Calculator tool allows easy identification of cost implications for material substitutions in any alloyed metals
- Synthetic prices can be created in the Alloy Calculator to provide material value in the absence of spot market assessments
Stay ahead of the non-ferrous metal markets
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EV flip-flopping has hampered the west: WEF
EV flip-flopping has hampered the west: WEF
London, 21 January (Argus) — Inconsistent policies and political turmoil have hampered western progress on electric vehicles (EVs), while China's longer-term stable approach has benefited industry winners such as BYD, speakers at a World Economic Forum (WEF) panel in Davos, Switzerland, said on Tuesday. China's lead in EVs is less about a single technological breakthrough and more about policy consistency. That was the clear message from executives and policymakers at the WEF panel on the global EV race, where China's long-term industrial alignment was repeatedly contrasted with stop-start policymaking in the US and Europe. Speaking early in the discussion, BYD executive vice-president Stella Li said China's EV successes "start from the government policy", arguing that Beijing's approach has been defined by consistency rather than constant revision. "In the past 20 years they never changed, but some countries went back and forth, and this will confuse manufacturing," Li said. "Once the government gives a very clear line, then manufacturing goes to work on the competition." This clarity, she argued, allowed companies to commit capital, concentrate on research and development and scale production without hedging against political reversals, something she suggested remains a structural disadvantage for western automakers. Industrial reality versus political instability Michigan governor Gretchen Whitmer, whose state accounts for more than a fifth of US car production, echoed this assessment from a US perspective, saying policy uncertainty has slowed decision-making across the industry. "The back and forth policies at the national level have made it more difficult for industry to throw all in," Whitmer said, adding that long-term investments were increasingly being delayed. "Chaos is really bad for business." The result, she added, is that manufacturers are forced to pursue multiple drivetrain strategies simultaneously, rather than committing fully to electrification. Former General Motors chief economist Elaine Buckberg said that a disconnect between political timeframes and industrial reality is critical. Automakers, she noted, plan vehicles years in advance, while democracy can change government policy over smaller time periods. "The typical planning process is five years before a vehicle comes into market, and you're planning to keep it there for six years," Buckberg said. "Keeping those incentives stable is really powerful." Alternatively, shifting incentives and short-term subsidies can distort demand. Li warned that poorly designed support schemes risk delaying purchases altogether. "Sometimes subsidies are more like a drug," she said. "Consumers just wait and the market stops. That is not sustainable." As competition between the US, China and Europe intensifies, the panel's message was that in the EV race, consistency may matter more than speed. By Thomas Kavanagh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Rio Tinto raises global copper output in 2025
Rio Tinto raises global copper output in 2025
Sydney, 21 January (Argus) — UK-Australian metals firm Rio Tinto produced 883,000t of copper in 2025 on an equity basis, up by 11pc from 2024 and above its guidance range of 860,000-875,000t, largely because of the ramp up of its Oyu Tolgoi mine in Mongolia. Rio Tinto plans to produce 800,000-870,000t of copper across its Chilean, US, and Mongolian operations in 2026, it said in a quarterly report on 21 January. The company produced 345,000t of copper in concentrate at Oyu Tolgoi in 2025, up by 61pc on the year. The increase came from the ongoing, years-long ramp-up of the mine's underground area, it said. Rio Tinto plans to produce 500,000 t/yr of copper in concentrate at the complex in 2028-36, it added. The company produced 348,000t of copper in concentrate and 56,000t of refined copper at its Chilean Escondida complex — which Australian producer BHP manages — in 2025, up by 5.7pc and 1.8pc on the year respectively. But that could change in 2026. Escondida's concentrator feed grade declined consistently over 2025, from 1.09pc in January-March to 0.91pc in October-December , data from BHP's October-December 2025 quarterly report show. Rio Tinto's copper in concentrate output at Escondida fell by 9.7pc on the year from 92,900t to 83,900t in October-December 2025. The company produced 134,000t of refined copper at its Kennecott project in Utah over 2025, down by 31pc from the previous year. It faced geotechnical challenges at the copper complex throughout the year. Rio Tinto also closed Kennecott's smelter for 21 days in September and another 45 days in mid-October, it said. The company aims to expand Kennecott's pit operation over 2026-32. It will also ramp up the complex's newly opened underground mine in 2026. By Avinash Govind Rio Tinto copper quarterly results 000 t Oct-Dec '25 Oct-Dec '24 y-o-y ± % 2025 2024 y-o-y ± % Kennecott (refined) 38.4 55.4 -30.7 133.6 193.2 -30.8 Escondida (metal in concentrate) 83.9 92.9 -9.7 348.1 329.3 5.7 Escondida (refined) 14.0 13.3 5.3 56.1 55.1 1.8 Oyu Tolgoi (metal in concentrate) 103.9 66.3 56.7 345.2 215.0 60.6 Total 240.3 228.0 5.4 883.1 792.6 11.4 —Rio Tinto Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Trump threatens 10pc tariff against UK, EU members
Trump threatens 10pc tariff against UK, EU members
Houston, 17 January (Argus) — President Donald Trump on Saturday threatened to impose a 10pc tariff on US imports from the UK and seven key members of the EU, citing their participation in a military mission in Denmark's Greenland territory, which he is threatening to annex. US imports from the UK, Denmark, Finland, France, Germany, The Netherlands, Norway and Sweden would be subject to a 10pc tariff from 1 February, rising to a 25pc tariff from 1 June, Trump announced via his social media platform. The tariff would remain in place until "such time as a Deal is reached for the Complete and Total purchase of Greenland", Trump said. Trump has stepped up discussion of taking over Greenland — a self-governing island under Denmark's control — following a US special forces raid that captured Venezuelan president Nicolas Maduro on 3 January. Denmark and Greenland have rejected US overtures to buy the island, as well as Trump's threat to take over the island by force. Trump is citing Greenland's alleged lack of military protection as the latest justification for his threats. He has denigrated Denmark's commitment to the island's defense against alleged threats from Russia and China. "They currently have two dogsleds as protection, one added recently," Trump said on Saturday. Denmark's foreign minister Lars Lokke Rasmussen, who traveled to Washington on 14 January to meet Trump administration officials, pushed back against that accusation. "Denmark has already stepped up our own contribution by committing additional funds for military capabilities — not [dogsleds], but ships, drones, fighter jets," Rasmussen said. The countries threatened with new tariffs by Trump joined Denmark to dispatch troops and military experts to Greenland on a mission to assess the island's security needs. Trump on Saturday said that the reconnaissance mission "journeyed to Greenland, for purposes unknown." EU leaders expressed solidarity with Denmark and called for dialogue, but they omitted mention of possible retaliation if Trump makes good on his threat to impose new tariffs. "Tariffs would undermine transatlantic relations and risk a dangerous downward spiral," European Council president Antonio Costa and European Commission president Ursula von der Leyen said in response to Trump's post. "Europe will remain united, coordinated, and committed to upholding its sovereignty." "Applying tariffs on allies for pursuing the collective security of Nato allies is completely wrong," UK prime minister Keir Starmer said on Saturday. "We will of course be pursuing this directly with the US administration." US imports from the UK already are subject to a 10pc import tariff, and imports from the EU face a 15pc tariff. While Trump is threatening tariffs against seven out of 27 EU members, the bloc collectively negotiates trade matters and sets tariffs. Trump is scheduled to attend the Davos Economic Forum in Switzerland on 21-22 January. A bipartisan delegation of 11 US senators and members of the House of Representatives traveled to Copenhagen on 16 January to express support for Denmark's government and push back against Trump's designs on Greenland. "There is no need, or desire, for a costly acquisition or hostile military takeover of Greenland when our Danish and Greenlandic allies are eager to work with us on Arctic security, critical minerals and other priorities under the framework of long-standing treaties," said US senators Jeanne Shaheen (D-New Hampshire) and Thom Tills (R-North Carolina), who were part of the congressional delegation. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Greenland’s resources face extraction hurdles
Greenland’s resources face extraction hurdles
Houston, 16 January (Argus) — Greenland's natural resources have returned to the fore since US president Donald Trump renewed his interest in acquiring the Danish autonomous territory, but the island's rare earths (REEs) and "critical minerals" will likely remain mostly commercially untapped amid extraction challenges and a lack of commercial viability without significant government financing. Trump recently denied that rare earths and "critical minerals" are a major motive in the push to acquire the territory, stating, "we need Greenland for national security, not minerals". Still, members of his administration have previously noted some interest in its resources, including US ambassador to the UN and former national security advisor Mike Waltz, who told Fox News in a January 2025 interview that "this is about critical minerals" in addition to national security when asked about US interest in Greenland. Geopolitical tensions grow Trump's chief policy advisor, Stephen Miller, last week told CNN that the "formal position" of the US government is that it should control Greenland "to protect and defend Nato and Nato interests". The notion was opposed by Europe, causing leaders of six European nations to put their names to a 6 January statement , with Denmark defending the sovereignty of Greenland in the face of US threats. In the following days, Trump said the US aims to acquire Greenland "whether they like it or not", claiming that if the US does not acquire the territory "Russia or China will take over Greenland". US, Danish and Greenlandic officials met in Washington on 14 January, but talks ultimately ended without agreement . "It's clear that the [US] president has this wish of conquering Greenland," Danish foreign minister Lars Lokke Rasmussen told reporters after the meeting. The meeting left both sides "with a fundamental disagreement" about Greenland's future, and "we didn't manage to change the American position", Rasmussen said. Trump's push for the US' acquisition of Greenland now involves tariff threats against countries opposing the move, saying, "I may put a tariff on countries if they don't go along with Greenland, because we need Greenland for national security", during remarks on Friday at an event dedicated to improving healthcare in US rural areas. Known resources and extraction challenges Greenland holds significant reserves of REEs and other "critical minerals", many of which serve essential — and sometimes non-substitutable — roles in various applications across many sectors, including defense, energy and automotive, among many others. The territory holds an estimated 36.1mn metric tonnes (t) of light and heavy rare earths, though only 1.5mn t of resources are proven, according to the Geological Survey of Denmark and Greenland (GEUS) and the US Geological Survey (USGS), respectively. Greenland holds the eighth-largest proven REE resources in the world, according to the USGS, but, Greenland does not actively produce any rare earths. In addition to rare earths, Greenland is also home to a "high" resource potential of molybdenum, graphite, hafnium, niobium, platinum group metals, tantalum and titanium, among others, according to estimates from GEUS. The island holds significant reserves of uranium, though its government banned mining of that element in 2021. Despite the resource quantities, few companies participate in Greenland's mining industry as difficult geological and geographical factors, harsh weather and limited existing infrastructure imply high operational costs, according to GEUS. A few rare earths and "critical minerals" projects are in exploratory phases however, and have received significant interest in government funding to propel production. Current projects US-based Critical Metals owns the Tanbreez project in southern Greenland, which holds an estimated 27pc of global heavy rare earths, according to the company, but the project has yet to achieve commercial production. The company has signed several offtake agreements within the last year, including with REalloys , Ucore Rare Metals and Saudi firm Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company. As of Thursday, all of the project's rare earths concentrate production is now slated for offtake under long-term contract agreements, according to Critical Metals. Critical Metals received a letter of interest for $120mn from the US Export-Import Bank for its Tanbreez rare earths project in June, covering studies, pre-production and initial mining. Canadian firm Greenland Resources' was granted a 30-year exploitation permit for molybdenum and magnesium for its Malmberg project in east Greenland in June, but has yet to start commercial production. The company has signed long-term supply agreements from the project with Finland-based stainless steel producer Outokumpu , German metal supplier Hempel Metallurgical and Italian specialty steel manufacturer Cogne Acciai Speciali within the last year. Greenland Resources also has significant funding interest from European government agencies. The European Union said in December it will help fund the molybdenum project , noting the project could quickly deliver on the EU's needs for molybdenum for the defense sector. The project also received support from the European Raw Materials Association in 2022. By Reagan Patrowicz Estimated Contained Resources in Greenland metric tonnes (t) Element Resource Estimates (2023) Antimony 3,780 Chromium 560,000 Copper 108,000 Gallium 152,000 Graphite 6,000,000 Hafnium 108,000 Lithium 235,000 Molybdenum 324,000 Niobium 5,900,000 Platinum Group Metals 576 Rare Earth Elements 36,100,000 Silicon 2,800,000 Tantalum 916,000 Titanium 12,100,000 Tungsten 26,200 Vanadium 179,000 Zirconium 57,100,000 List not indicative of all resources. Totals summed by GEUS from resource estimations of known individual deposits in Greenland. Source: Geological Survey of Denmark and Greenland (GEUS) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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