A softer tone settled over the complex this week, with one stubborn exception: ocean freight kept climbing. Chinese ferrous futures sank to a two-month low on weak demand signals, base metals stayed range-bound to lower, urea extended its long slide and Asian polymer offers eased again — yet container rates rose for a third straight week as peak-season frontloading gathered pace. Below is the net move for each group, the week's biggest movers, and what to watch in the days ahead. For grades, specifications and quotations, each section links through to the relevant product catalogue page.
Week at a glance
| Group | Net move | The week in one line | Catalogue |
|---|---|---|---|
| Iron ore & steel | Softer | Chinese rebar futures fell below CNY 3,080/t — a two-month low; Turkish export rebar near US$590–600/t FOB; 62% Fe ore around US$101/t CFR | Steel Products |
| Copper | Steady | LME three-month held near US$13,400/t; exchange stocks near a 2013 high but available metal tightening as cancellations rise | Non-Ferrous |
| Aluminium & zinc | Softer | Aluminium eased toward US$3,200/t after its early-month correction; zinc resilient in a narrow range | Non-Ferrous |
| Industrial minerals | Steady | Barite, gypsum and aggregates tracking firm GCC construction and infrastructure demand | Minerals |
| Petrochemicals | Lower | Urea near US$366/t, extending its monthly slide; bitumen off about 9% m/m but still above year-ago levels; methanol steady-to-firm | Petrochemicals |
| Polymers (PE/PP/PVC) | Softer | Southeast Asian HDPE and LLDPE offers slipped about US$25/t as need-to buying held; India firmer on supply discipline | Polymers |
| Ocean freight | Up again | Drewry's World Container Index rose ~5% to about US$4,166/40ft, led this week by the Transpacific | Logistics |
The week's biggest movers
Steel & iron ore
Ferrous turned softer this week as China's demand picture weakened. Rebar futures in Shanghai dropped below CNY 3,080 per tonne — their lowest in more than two months — after fresh data showed fixed-asset investment and consumer spending cooling and mill profitability easing to about 51% of producers. Crude steel output in May fell roughly 2.7% year-on-year to about 84.35 million tonnes, underlining a still-subdued property sector. Export benchmarks held firmer: Turkish rebar sat near US$590–600 per tonne FOB and 62% Fe iron ore fines hovered around US$101 per tonne CFR. The soft raw-material backdrop keeps finished offers anchored — a constructive window for project buyers to lock forward tonnage. Certified grades and standards are on our Steel Products and Semi-Finished Steel pages, part of our Industrial Products & Commodities sector.
Copper & non-ferrous
Base metals drifted rather than broke. Copper held near US$13,400 per tonne on the LME three-month, consolidating after the record territory it tested earlier in the month; exchange inventories remain close to their highest since 2013, yet available metal is tightening as cancellations rise — a reminder the structural deficit narrative behind electrification and AI-infrastructure demand is intact. Aluminium eased toward US$3,200 per tonne after its early-June correction, while zinc proved resilient, trading a narrow range for a second straight week. Buyers of cathodes, billets, ingots and wire rod should keep budgeting for elevated, range-bound pricing; specifications are on our Non-Ferrous Metals catalogue.
Industrial minerals
Industrial minerals — barite, bentonite, gypsum, aggregates and cement clinker — held steady through the week, underpinned by resilient construction and infrastructure activity across the GCC and wider region. Supply remained reliable through our quarry and partner network, backed by lab certification and the logistics strength described in our Supply Chain & Logistics capability. Browse grades on the Industrial Minerals page, part of our Mining, Minerals & Natural Stone sector.
Petrochemicals
Petrochemical markets stayed on the back foot. Urea slipped to near US$366 per tonne late in the week, extending one of the sharpest corrections in the complex and keeping a clear window open for contract buyers to secure forward cover. Bitumen drifted lower — Chinese futures near CNY 4,100 per tonne, off about 9% on the month but still some 9% above year-ago levels as Middle East supply risk lingers — while methanol held steady-to-firm on Asian export demand. Sulphur and base oils rounded out a soft but orderly picture. Available products — urea, sulphur, bitumen grades, base oils and methanol — are listed on our Petrochemicals & Chemicals page.
Plastics & polymers
Polymer markets softened again at the margin in Asia. In Southeast Asia, HDPE and LLDPE offers eased about US$25 per tonne — with HDPE grades near US$1,270/t — as the panic-buying of the spring stayed absent and converters held to need-to-basis purchasing to preserve working capital. India, by contrast, held firmer as domestic producers nudged PE and PP up on supply discipline despite softer international offers, keeping a China–Southeast Asia–India arbitrage in play. With crude expected to firm into July, the easing looks tactical rather than structural — a selective replenishment window for converters. View resin and film options on our Plastics & Polymers page.
Freight & trade policy
Logistics was again the week's standout. Drewry's World Container Index rose about 5% to roughly US$4,166 per 40ft container — a third consecutive weekly gain — led this week by the Transpacific. Carriers cited an early peak season, with shippers frontloading cargo ahead of potential US tariff changes expected in July and additional demand tied to the 2026 FIFA World Cup. For importers, rising ocean rates feed straight into landed cost, which is exactly what our logistics and global sourcing teams plan around so delivered pricing stays predictable.
Week ahead
Watch three things. First, freight: if frontloading intensifies into the July tariff calendar, container rates could extend their climb, so booking shipping windows early remains prudent. Second, Chinese ferrous — with rebar futures at a two-month low, any policy support or restocking signal out of Beijing would set the near-term tone for steel and iron ore. Third, whether urea's slide finds a floor, which would mark a better entry point for forward fertiliser cover. With freight rising, metals mixed-to-soft, and fertiliser and polymers easing, a selective forward-cover approach — booking freight ahead, timing urea and resin buys to the soft trend, and locking steel cover while raw materials sit low — looks sensible. Arian Holding's global sourcing and quality-assurance teams can structure compliant, multi-grade supply across all of the above. Request a quote and our trade desk will respond with current, firm pricing for your specifications.
Sources: Trading Economics (steel, urea, bitumen); Arab Iron and Steel Union (rebar, iron ore); London Metal Exchange (copper, aluminium); ChemOrbis and ICIS (polymers); Drewry World Container Index. Figures are indicative market levels for the week to June 28, 2026 and are provided for general information, not as trading advice.