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).

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.

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%.

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.

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.

[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.

According to US Department of Commerce data, the United States imported 2.45 million net tons (nt) of steel in March 2026, a 5.3% increase from February. Finished steel imports surged by 15.4% month-on-month to 1.94 million nt, accounting for an estimated 22% of the domestic market share. Total imports for the first quarter of 2026 reached 7.07 million nt, up 2.7% compared to the same period in 2025. Significant increases were seen in imports of oil country tubular goods (+55%) and line pipe (+49%). The influx of finished products, particularly from South Korea and Brazil, increases competitive pressure on domestic US mills and may limit the upside for local spot prices despite seasonal demand recovery.

China's stainless steel futures gave back ground sharply in the first trading week after the May Day holiday, as a sudden easing of Middle East tensions deflated the risk premium that had carried prices to recent highs. With the cost-side narrative unwinding and physical demand showing little follow-through, the market is searching for a new floor

Starting from the new all-time high of USD 5,602 on January 29, the gold price has now been in a correction phase for over three months, characterized so far by two sharp downward waves, two recovery waves, and most recently by another downward wave since mid-April.

[SMM Steel] Vietnam exported 2.94 mln tons of steel in Q1 2026, up nearly 7% YoY, with March shipments reaching 1.03 mln tons (+23% MoM). The United States remained the largest market, with exports rising 32% YoY, while shipments to Russia surged over 830%, albeit from a low base. Strong growth was also seen in India and Southeast Asia. However, exports continue to face mounting pressure from trade protection measures, including US Section 232 tariffs and EU CBAM and quota restrictions, pushing Vietnamese producers to rely more on domestic demand. Supported by infrastructure investment and real estate recovery, Vietnam’s steel consumption is expected to grow 5–8% in 2026, positioning the domestic market as the key growth driver.