[SMM Analysis: Copper Wire Rod Exports in July Pulled Back Nearly 30% MoM, High Copper Prices and High Premiums Dampened Foreign Demand] In July, total exports of copper wire rod (HS codes 74081100 and 74081900) decreased MoM but increased YoY. The specific data are as follows:......

[Vietnam] Vietnam’s steel market remained largely stable, with construction steel prices holding at around 531 USD/tonne EXW and HRC at approximately 515–522 USD/tonne CFR Ho Chi Minh City. Buyers and sellers are largely taking a wait-and-see approach ahead of the next price announcements from major mills, expected next week before the September 2 Independence Day holiday, with the new offers likely to provide a clearer signal for near-term price direction. Domestic project-linked demand remains supportive as major infrastructure projects move toward the September 2 inauguration, while the market awaits the next wave of infrastructure investment in Hanoi. Meanwhile, discussions between steel industry participants and the Ministry of Industry and Trade regarding Taiwan’s anti-dumping investigation have intensified, with the government urging affected companies to submit company profiles and relevant information to the Taiwanese authorities and actively cooperate with the investigation.

Vietnam’s steel market remained relatively stable, with construction steel prices holding at around 531 USD/tonne EXW and HRC at approximately 515–522 USD/tonne CFR Ho Chi Minh City. Project-linked sales largely settled ahead of the September 2 inauguration of major public infrastructure projects in Ho Chi Minh City. The market is now awaiting the next wave of infrastructure investment in Hanoi, where the city is still developing its project plans. In overseas markets, growing trade-remedy measures continue to weigh on demand, with Taiwan’s anti-dumping investigation into Vietnamese cold-rolled stainless steel adding further pressure on exports. To support the manufacturing companies, preferential lending programs from more than 10 banks, alongside accelerating infrastructure investment, are expected to improve financing conditions and provide additional support for domestic construction steel demand.

More than 10 Vietnamese banks have announced lending-rate cuts and preferential credit packages since August, with several programs targeting SMEs, manufacturing and import-export businesses. Interest-rate reductions range from around 0.5% to 2.5% per year, while major banks including Agribank, BIDV, Vietcombank and VietinBank have launched preferential packages of VND50–70 trillion for priority sectors. The measures are expected to lower financing costs, improve cash flow and support working capital for steel producers and downstream businesses, particularly those involved in construction, manufacturing, exports and national infrastructure projects, providing additional support for domestic steel demand.

According to SMM statistics, both mill inventories and social inventories rose to varying degrees in the current period. The total inventory of construction steel stood at 8.543 million tons, rising by 64,200 tons month-on-month, a month-on-month increase of 0.76%, with the inventory accumulation pace picking up slightly.

Mali says it could leverage revenues from its 2023 mining sector reforms to raise up to 500 billion CFA francs (approximately $883.1 million) for energy, water, and transport infrastructure projects, according to the country's finance minister. The move marks the first clear signal of how Mali's government plans to channel windfall mining revenue into infrastructure financing, following a 2023 mining code overhaul that raised royalties and increased state stakes in mining projects reforms that have sparked disputes with international operators. A government audit reported in December recovered 761 billion CFA francs in alleged arrears from mining companies. Finance Minister Alousseni Sanou said Mali's Energy, Water and Transport Infrastructure Development Fund, created in 2023 and funded exclusively by mining permit holder contributions, had mobilized 109.14 billion CFA francs between January 2025 and June 2026. The fund draws 1% of quarterly turnover and 10% of ad valorem taxes during a mine's first five years, rising to 2% thereafter, generating at least 50 billion CFA francs annually a base Sanou said could be leveraged into significantly larger financing. Infrastructure and Transport Minister Dembele Madina Sissoko said proposed projects include railway development, road construction, boat acquisitions, and initiatives tied to state-owned Mali Airlines. SMM View: Mali's approach reflects a broader shift among African resource producers seeking greater domestic value from mining revenues echoing Ghana's use of mineral income to fund its "Big Push" infrastructure programme. As mining linked capital increasingly funds public infrastructure, it could reshape investment conditions and state-operator dynamics across West Africa's critical minerals sector.