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News
- [SMM Iron & Steel] Brazil Heavy Plate April Exports Surge 117% but US Market Absence Drags Volumes
Brazil’s heavy plate exports surged by 117.3% month-on-month in April 2026 to 11,300 metric tons (mt) compared to 5,200 mt in March, according to SECEX data. Despite the strong monthly growth, overall export volumes remain well below historical averages due to the continued absence of the United States as an export destination, with all April shipments bound for South American countries. Prominent exporters included Usiminas (10,700 mt at $559/mt FOB), CSN (300 mt at $842/mt FOB), and Gerdau (200 mt at $595/mt FOB). Concurrently, Brazil's heavy plate imports grew 47% month-on-month to 2,200 mt, led by China (1,500 mt at $608/mt), Italy (500 mt), and Portugal (300 mt).
May 18, 2026 11:13 - POSCO approves definitive agreement with Australia’s Anson for North American DLE project
According to Anson on May 14, both Anson’s board and POSCO Holdings’ board have approved the terms of a definitive agreement to build and operate a DLE demonstration plant. The two companies will build the demonstration plant at the Green River Lithium Project site in the Paradox Basin in Utah, the United States. Through the demonstration plant, lithium will be extracted from brine produced from Anson’s Bosydaba #1 well. The companies aim to sign the final agreement within the second quarter and begin operating the plant next year. They plan to carry out demonstration work through 2028 to secure DLE technology.
May 14, 2026 18:58 - [SMM Steel Market Morning Brief] US April PPI Up 6% YoY, Hitting a New High Since December 2022 and Exceeding Market Expectations
US April PPI was up 6% YoY, the highest since December 2022, versus expectations of 4.9%, with the prior reading revised from 4.00% to 4.3%. April PPI was up 1.4% MoM, the highest since March 2022, versus expectations of 0.5%, with the prior reading revised from 0.50% to 0.7%.
May 14, 2026 07:31 - Rio Tinto Expects Copper Output to Rise 13% by 2030 Amid Global Resource Expansion
Rio Tinto stated that it expects its copper production to increase by approximately 13% by 2030, mainly driven by growth from the Oyu Tolgoi project in Mongolia and the Kennecott operation in the United States. The company also noted that global copper mine development continues to face challenges including lengthy permitting processes and slow supply additions. As demand from AI, electrification, and energy transition sectors continues to grow, major mining companies are accelerating global copper resource development and long-term supply expansion strategies.
May 13, 2026 09:23 - Entreprise Générale du Cobalt, EVelution Energy and Trafigura sign MOU to establish direct U.S.–DRC cobalt supply chain
Entreprise Générale du Cobalt (EGC), EVelution Energy, and Trafigura have signed a memorandum of understanding (MOU) to establish a long-term cobalt supply chain from the Democratic Republic of the Congo (DRC) to the United States. Under the proposed arrangement, EGC will be responsible for sourcing cobalt hydroxide in the DRC, Trafigura will provide logistics, supply chain, and marketing services, and EVelution Energy will process the material in Arizona into battery-grade cobalt sulfate or cobalt metal for use in the aerospace, defense, and electric vehicle industries. The partnership is expected to meet approximately 40% of U.S. cobalt demand and represents a significant step in advancing U.S.–DRC cooperation on critical minerals.
May 13, 2026 06:00 - Unifor Union Locks in Ford, Negotiations to Begin June 22
[Canada's Unifor Union Targets Ford as Top Priority for 2026 Contract Negotiations] Unifor, Canada's largest private-sector union, has locked in Ford Motor as its primary negotiating target, prioritizing a new collective labor agreement with the automaker, one of the Detroit Big Three. Negotiations are set to officially begin on June 22. If a new agreement is reached with Ford, it will establish a benchmark pattern for subsequent negotiations with Stellantis and General Motors. Just days after negotiations begin, on July 1, the United States-Mexico-Canada Agreement (USMCA) will undergo its mandatory joint review, in which the three countries will need to decide whether to extend the agreement for 16 years.
May 12, 2026 13:21
Announcements
To better serve industrial clients and stay closer to the market, SMM is adding 6 new scrap copper price assessments for Japan/US regions, officially launching on 16/1/2026. 1. New Price Points Copper Scrap - East Asia - Japan Millberry CIF China - Japan Millberry CIF China Taiwan - Japan Millberry CIF Korea Copper Scrap - America - United States Millberry CIF Japan - United States No.1 Copper Material CIF Japan - United States No.2 Copper Material CIF Japan 2. SMM Price Methodology General Principles Shanghai Metals Market (hereinafter referred to as "SMM") is a completely independent third-party service provider that does not participate in any actual transactions. Instead, SMM maintains close communication with buyers and sellers as a market observer or organizer and provides related services to the market. This document sets forth the standards for SMM's East Asia and US scrap copper price assessments. The purpose of establishing these standards is to create a transparent and verifiable SMM price formation mechanism. 3. Formation of SMM East Asia and US Scrap Copper Price Assessments 3.1 Significance of the Assessments In recent years, Japan and the United States have continued to play important roles in the global scrap copper trading system. Their export prices for berry copper and copper scrap hold strong reference value for major Asian consumer markets. Due to differences in origin quality structure, trade flows, and regional demand, actual transaction prices vary across different destinations. To more accurately reflect the true price levels of Japanese and US scrap copper in cross-regional circulation, reduce information asymmetry risks, and help upstream and downstream enterprises more reasonably evaluate procurement costs and formulate trading strategies, SMM plans to add price points including Japan Berry Copper CIF China, Japan Berry Copper CIF South Korea, Japan Berry Copper CIF Taiwan China, US Berry Copper CIF Japan, US No.1 Copper CIF Japan, and US No.2 Copper CIF Japan. These will be collected according to a unified methodology and publicly released to the market for industry reference. SMM price members will be able to access relevant historical price data simultaneously. 3.2 SMM East Asia and US Scrap Copper Price Assessment Methodology 3.2.1 Product Specifications and Standards Currently, scrap copper reference standards follow ISRI standards. If changes occur, SMM will revise accordingly based on actual circumstances. 3.2.2 Price Terms Prices are CIF indicative prices, expressed as a coefficient (%) unit. 3.2.3 Payment Terms Prices reflect payment conditions including TT or other conventional payment methods. 3.2.4 Quote Format and Timing Quoted prices are in range format, showing minimum and maximum prices. For example: Japan Millberry CIF China: 97.5%-98%. New price points will be assessed weekly. SMM will publish prices on the website front page at 3:30 PM on the last day of each working week. 3.2.5 Data Collection Method According to the data collection confirmation agreement, SMM price analysts will regularly collect price information from scrap copper industry contacts in Japan through telephone, WeChat, email, and other methods. This price information includes completed transaction prices and the most likely anticipated transaction prices expected by the enterprise. All instant messaging content and any face-to-face communication records will be archived telephone communication details will be recorded and entered into the database. SMM analysts must comply with the Compliance System when reporting to their supervisors any coerced or threatened communications from market participants, or any inducements attempting to influence assessments. After price publication, SMM will not make corrections or adjustments on that day. 3.2.6 Data Standardization Although SMM has standardized definitions for our prices, market transactions exist in various forms. Each transaction price is influenced by numerous factors, including order size, material brand, delivery time, payment terms, etc. SMM will comprehensively consider market quotes, bids, and transaction information and align them with our standards. We welcome more relevant enterprises along the industry chain to participate in and support SMM in better serving scrap copper industry-related enterprises. For any questions, please contact us. Shanghai Metal Market Copper Department - Aw Yong Yi Cheong Contact: +6011-25798397 Email add: awyong.yicheong@smm.cn
PriceJan 12, 2026 15:35