Chinese flat steel prices rose sharply in early May, supported by stronger domestic sentiment, tighter export conditions and heightened geopolitical risks. Annie Wang, senior analyst at Argus Media, discusses how these factors, along with firming semi-finished steel prices, are shaping market dynamics in China and influencing global ferrous trade.

Key topics covered in the podcast:

• Drivers behind the early May increase in Chinese flat steel prices and how market conditions evolved through the quarter

• Impact of export license constraints on Chinese flat steel offers and buyer behavior

• Role of geopolitical risks in supporting prices through freight, insurance and broader supply concerns

• Effect of higher slab and semi-finished steel prices on hot-rolled coil pricing, substrate costs and mill margins

• Market expectations for Chinese flat steel prices, export volumes and domestic demand in the coming months

In this episode, Argus examines the intensifying supply squeeze in global aluminum markets following the outbreak of the US-Iran war and the closure of the Strait of Hormuz. With inventories at historically low levels and competition for units increasing across regions, supply security has become the dominant concern for consumers. Our experts explore how trade flows, premiums and secondary markets are responding, and why tightness may persist through the remainder of 2026.

Covered in this episode

• Why security of supply has overtaken sustainability and policy as the top priority for aluminum buyers

• The impact of Middle East disruption on global availability, inventories and LME market structure

• How European and US premiums are moving — and why further upside remains likely

• The role of tariffs, trade flows and regional competition in shaping the US aluminium market

• Why demand destruction has so far been limited despite historically high prices

• The outlook for supply if the Strait of Hormuz reopens in the immediate future — including the release of stockpiled metal

• How scrap and secondary aluminum markets are responding, particularly in Europe and the US

Discussões climáticas estão em um momento de transição, com alguns países querendo cada vez mais foco em combustíveis fósseis e menos em emissões, enquanto outros seguem resistentes a essa mudança. Acompanhe a conversa entre Camila Fontana, chefe adjunta da redação da Argus no Brasil, e o editor Lucas Parolin. 

Alguns dos tópicos deste episódio: 

Foco anterior no papel das emissões de carbono no aquecimento global 

Acordos das COP e gargalos de implementação  

União de países pela transição para longe dos combustíveis fósseis 

Combate a aspectos econômicos que dificultam a transição  

Fluxos comerciais e exportação de emissões 

Incentivos aos biocombustíveis  

Las discusiones climáticas atraviesan un momento de transición, con algunos países que buscan cada vez más centrarse en los combustibles fósiles y menos en las emisiones, mientras que otros se mantienen resistentes a este cambio. Siga la conversación entre Camila Fontana, subdirectora de la redacción de Argus en Brasil, y el editor Lucas Parolin. 

Algunos de los temas de este episodio: 

Enfoque previo en el papel de las emisiones de carbono en el calentamiento global 

Acuerdos de las COP y cuellos de botella en su implementación 

Unión de países para la transición alejándose de los combustibles fósiles 

Afrontar los desafíos económicos que dificultan la transición 

Flujos comerciales y la exportación de emisiones 

Incentivos para los biocombustibles 

Climate discussions are at a moment of transition, with some countries increasingly calling for greater focus on fossil fuels and less emphasis on emissions, while others remain resistant to this shift. Follow the conversation between Camila Fontana, deputy bureau chief of Argus in Brazil, and editor Lucas Parolin. 

Previous focus on the role of carbon emissions in global warming 

COP agreements and implementation bottlenecks 

Coalition of countries pushing for a transition away from fossil fuels 

Addressing economic challenges that hinder the transition 

Trade flows and the export of emissions 

Incentives for biofuels 

Welcome to this Methanol Market Puts-and-Takes podcast episode, part of the Chemical Conversations series. 

In this episode, Senior Analyst Cassidy Staggers talks with Dave McCaskill, Argus VP of Methanol and Derivatives on:

·  Continued impacts from the war in Iran

·  Global market update on prices, trade flows and supply and demand

·  Update on low-carbon methanol projects and post-IMO spring meeting reflection

Argus offers methanol prices, news, analysis, forecasts, and consulting. Get more information and request a free trial.

Argus and CME Group discuss the price signals, trading activity and risk tools emerging around higher-GHG ethanol.

In this episode, Anna Prokhorova (Senior reporter - waste feedstocks, Biofuels, Argus Media) is joined by Arezki Djelouadji (partner, Greenea) to explore the reasons behind the disconnect — from UCO’s structural pricing link to Ucome, to the role of blend walls, growing demand from HVO and SAF, and the rise of feedstock flexibility.

They also look at shifting global trade flows and what changing US policy means for European markets, and why short-term signals differ from the longer-term outlook.

Asian LPG markets are settling into a new reality as the Strait of Hormuz closure enters its third month. Deputy Editor Waldemar Jaszczyk and Singapore-based LPG Editor Frances Goh examine how the biggest buyers of Middle East cargoes — India and China — are coping with prolonged supply disruption through pivot to US barrels and sharp demand reduction. They also assess whether the recent trade-flow re‑routing will last and what it could mean for regional pricing benchmarks.

This episode was recorded on 1 May 2026

Global energy markets are at a turning point—and the Middle East is right at the center. Supply remains constrained by regional tensions, while demand continues to hold strong, especially across Asia. The United Arab Emirates is redefining its role within OPEC, signaling a shift toward greater production independence and long-term strategy over collective control.

Join Tom Reed, VP – China, Crude and Oil Products and Dubai‑based experts Nader Itayim, Middle East Editor and Sarah Raffoul, Manager-Analytics and Consulting in this exclusive video insight.