Metals
Overview
The global metals markets are evolving rapidly, shaped by shifting supply chains, rising demand for critical minerals, geopolitical uncertainty, and increasing price volatility across ferrous, non‑ferrous and emerging technology metals. Argus provides independent metals pricing, trusted benchmarks and actionable market intelligence that give mining companies, metal producers, traders, manufacturers and recyclers the clarity and confidence they need to navigate increasing cost exposure, manage risks and make data-driven decisions.
Covering the steel supply chain, base metals, critical metals including rare earths, scrap, ferroalloys, raw materials and energy‑transition metals, Argus delivers accurate, reliable price assessments that reflect real market activity. Companies worldwide reference Argus metals benchmarks in physical and financial contracts to ensure fair, consistent and market‑aligned pricing, a crucial advantage in regions where regulatory environments, trade flows and cost structures vary dramatically.
With expert analysis, regional metals prices, market reporting, and fundamentals data, Argus helps users track market sentiment, identify key metals price drivers and stay informed on developments across ferrous, non‑ferrous and critical minerals markets, supported by localized coverage in the most active trading regions. This includes rapid shifts driven by developments in emerging supply chains, logistics constraints, shifting demand conditions, energy and input‑cost volatility, and China’s dominant role in global metals supply and demand, where changes in production, export policy, or refining capacity can quickly move global metals prices, availability and trade flows.
Argus empowers stakeholders across steel, raw materials, non‑ferrous and critical metals markets with reliable data, clear insights and a deeper understanding of global metals‑market dynamics, helping businesses remain competitive, agile and prepared for what’s next.
Market Coverage
Argus offers comprehensive coverage across all major metals markets, providing independent pricing and market intelligence for steel, steel raw materials, base metals, alloys, scrap, pipe and tube, battery materials, rare earths and specialty and minor metals. Our pricing and market intelligence provide a clear, structured view of metals markets worldwide, helping you monitor key trends and respond to shifting market dynamics with confidence.
Stay ahead of the Metals market
To be informed of new metals content, sign up to the Argus Metals Newsletter of your choice. Each issue provides key prices, selected news, downloadable insight papers, podcasts, and on-demand videos on your selected metal markets. We offer four tailored newsletters according to your area of interest, covering battery materials, ferrous, non-ferrous, and scrap markets.
Latest metals news
Browse the latest market moving news on the global metals industry.
Australia's Arafura, wind turbine OEM extend RE deal
Australia's Arafura, wind turbine OEM extend RE deal
Sydney, 18 September (Argus) — Australian minerals developer Arafura Rare Earths has extended a binding offtake agreement with an existing partner, specified only as a global wind turbine original equipment manufacturer (OEM), for up to eight years. The extended deal will cover 500 t/yr of neodymium praseodymium (NdPr) oxide equivalent for five years, with an option to extend it to eight years, the company said on 18 September. The offtake volumes will be priced against a global seaborne index, the company said, adding that it will no longer disclose the identities of offtake partners to protect commercially sensitive information. Arafura signed a five-year offtake deal with Germany-based manufacturer Siemens in 2023 for use in its offshore wind turbines. The deal had an option to extend for a further two years, and covered up to 400 t/yr of NdPr metal or 520 t/yr of NdPr oxide equivalent over the term of the deal. The deal stipulated financing and project development milestones for Arafura, to be met by 30 September 2026 unless otherwise agreed. Arafura reached a final investment decision on its Nolans project in the Northern Territory in May. It expects to begin production of 4,440 t/yr of NdPr oxide and 470 t/yr of mixed medium-heavy rare earth oxide containing dysprosium and terbium (DyTb) by early-to-mid 2029. NdPr and DyTb are used in neodymium-boron-iron (NdFeB) rare earth permanent magnets, which form a critical part of direct-drive wind turbines. Direct-drive wind turbines do not need a gearbox, which greatly reduces the frequency of mechanical failure, according to the IEA. Wind energy sector demand for NdFeB magnets in the is growing faster than electric vehicles (EVs). The rate of global wind power installations is projected to more than triple from 9.25 GW/yr in 2025 to 33.65 GW/yr in 2030, according to Argus Analytics . Meanwhile, global EV sales are expected to increase by around 61pc to 38.8mn units/yr in 2030. Argus -assessed NdPr oxide min 99pc cif Europe was up $4/kg on the week at $115/kg on 17 September ( see graph ). By Daniel Gage-Brown NdPr prices 2025-26 USD/kg Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
China's Zhongjin Lingnan resumes zinc mine
China's Zhongjin Lingnan resumes zinc mine
Shanghai, 17 September (Argus) — Major Chinese zinc and lead producer Shenzhen Zhongjin Lingnan has resumed operations at its Fankou zinc-lead mine, the company announced today. The company announced on 5 August that the operations at its Fankou zinc-lead mine had been suspended following a roof-collapse accident that resulted in one fatality. The company has not disclosed the total production loss resulting from the suspension. Zhongjin Lingnan produced 253,805t of contained zinc and lead in concentrate in 2025. The Fankou mine accounts for around half of the company's concentrate output, producing about 120,000-130,000 t/yr of contained zinc and lead, according to the company. China's zinc concentrate market has been extremely tight this year, because of global mines disruptions and higher domestic refined zinc production supported by high sulphuric acid by-product prices. Argus assessed imported zinc concentrate TCs at -$130/dry metric tonne (dmt) to -$105/dmt on 16 September, down significantly from -$20/dmt to $10/dmt on 8 April. The resumption of the Fankou mine is unlikely to reverse the deeply negative TC environment, market participants said. Smelters typically begin replenishing concentrate inventories in late September or early October ahead of winter operations, which is likely to exert further downward pressure on concentrate TCs in the coming months. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
China's HBIS raises ferro-silicon tender in September
China's HBIS raises ferro-silicon tender in September
Beijing, 17 September (Argus) — Chinese state-owned steel producer Hebei Iron and Steel (HBIS) has raised its tender price for September ferro-silicon, in response to higher spot offers of the bulk alloy. Its tender price for 72pc ferro-silicon rose to 6,340 yuan/t ($946/t) in September, up by Yn160/t from August and by Yn40/t from its provisional tender price, according to market sources. Ferro-silicon producers have raised their offers, driven by higher production costs of coke and semi-coke feedstocks, linked to firmer coal prices. Coal prices rose in the first half of September because of tightening supply, with a number of mines in Shanxi province remaining closed or operating under enhanced safety inspections. Shanxi is China's largest coal-producing province and a key production hub for magnesium metal, coke and ferro-alloys. Several other steel mills also boosted their purchase prices for the bulk alloy to Yn6,200-6,400/t delivered and paid by acceptance bill for September delivery, up by Yn100-200/t against the previous month. Argus- assessed prices for 72pc ferro-silicon hit a 20-month high at Yn5,900-6,000/t ex-works on 8 September, up by Yn150/t from the previous assessment on 1 September. But prices fell to Yn5,700-5,800/t on 15 September, tracking lower future prices. HBIS purchased 3,804t of ferro-silicon in September, up by 164t from August, as it increased operating rates after regular equipment maintenance in August. HBIS produced 16.44mn t of crude steel in January-June this year and bought 31,263t of ferro-silicon in 2025, according to its half-year report and industrial data. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Canadian copper miner expands Panama shipments
Canadian copper miner expands Panama shipments
Kingston, 16 September (Argus) — Canadian miner First Quantum continued to ship copper concentrate produced in Panama this week, Panama's commerce minister Julio Molto said. The firm shipped 38,000 metric tonnes (t) to India, after sending a combined 33,000t to Spain and Bulgaria in August from the stockpile of about 38mn t at its shuttered mine that was operated by its subsidiary Minera Panama. The shipments are from output that was accumulated before Panama's supreme court ordered the mine closed at the end of 2023, citing an unconstitutional license. About 6.3mn t of copper ore from the closed mine have been processed, leaving 31.6mn t that will be processed "in another 13 months," Molto said. Panama's president Jose Raul Mulino created a ministerial committee in July to decide the fate of the mine, "but there is no planned reopening" as the government is "respecting and abiding by the supreme court ruling", Molto said. The mine and the remaining risks were not declared unconstitutional and the government does not have the technical capacity to manage such a major enterprise, he said. "The accumulated concentrate is being managed within the framework of a safe preservation plan," he added. "We could not abandon the stockpile." Panama's commerce ministry in April authorized Minera Panama to export the material as the government delayed until the end of the year a decision on the future of the $10bn investment by First Quantum that produced 331,000t in 2023. The stockpiled ore is intended to "mitigate environmental and operational risks associated with prolonged on-site storage," First Quantum said. "This activity does not constitute a reopening of the mine and will not involve any new drilling, blasting, or reactivation of mining operations", it added. The supreme court's order to close the mine followed several weeks of street protests over the terms given to First Quantum for the continued operation of the mine. The mine was accounting for about 40pc of First Quantum's annual revenue and 1.5pc of global copper output when it was closed, according to the company. The closure has cost Panama $6.5bn, equivalent to more than 5pc of its economic output, the government said. By Canute James Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Spotlight content
Explore the latest market insight and analysis from our global metals experts.
Explore our metals products
Explore pricing, analytics and tools that support procurement, risk management and strategic planning across metals markets.
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.