The past week was one of stabilisation rather than direction. Ferrous markets steadied off two-week lows, base metals consolidated after a firm start to July, urea and bitumen held their recent strength, and polymer sellers pushed through modest increases. Below is where each group finished the week, the biggest movers, and what to watch next. For grades, specifications and quotations, each section links through to the relevant product catalogue page.
Week at a glance
| Group | Net move on the week | Read | Catalogue |
|---|---|---|---|
| Iron ore & steel | Recovered | Ore back toward ~US$98–99/t; rebar futures firmer near CNY 3,090/t | Steel |
| Copper & aluminium | Consolidating | Base complex held July gains; aluminium the steadier of the two | Non-Ferrous |
| Zinc | Weakest | Down ~US$90/t w/w in mid-July, closing near US$3,525/t | Non-Ferrous |
| Industrial minerals | Stable | Barite, gypsum & aggregates tracking steady regional demand | Minerals |
| Petrochemicals | Firm | Urea up ~21% m/m; bitumen tight at ~US$605/t FOB Singapore | Petrochemicals |
| Polymers (PE/PP/PVC) | Higher | Indian producers lifted PP, HDPE & PVC list prices this week | Polymers |
Steel & iron ore — the week's recovery story
Iron ore was among the week's clearer movers, rebounding from two-week lows to trade back near US$98–99 per tonne (62% Fe, CFR China) as resilient Chinese steel output and firm import demand offset ongoing property-sector weakness. Steel rebar futures recovered in step, hovering around CNY 3,090 per tonne and clawing back earlier losses on improving sentiment toward China's steel sector. For project buyers, the message is a market that found a floor rather than one that broke higher — a constructive window to confirm forward tonnage. See current grades and standards on our Steel Products and Semi-Finished Steel pages.
Non-ferrous metals — base complex consolidates, zinc lags
After all six LME base metals finished higher in the first full week of July, the complex spent the following weeks consolidating those gains. Zinc was the clear laggard, falling around US$90 per tonne week-on-week in mid-July to close near US$3,525/t — the weakest performer in the base metals pack. Aluminium held up better, having led earlier gains, while copper traded sideways at elevated levels. Buyers of ingots, billets, cathodes and wire rod should continue to plan around firm-but-rangebound pricing; explore specifications on our Non-Ferrous Metals catalogue.
Industrial minerals — steady underpinning
Industrial minerals — barite, bentonite, gypsum, aggregates and cement clinker — stayed stable through the week, supported by construction and infrastructure activity across the GCC and wider region. Availability remains 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.
Petrochemicals — urea and bitumen hold firm
Petrochemicals were the week's firmest corner. Urea eased marginally day-to-day to around US$451 per tonne but is still up roughly 21% over the past month, keeping fertilizer buyers on the back foot. Bitumen stayed tight, with July FOB Singapore bids reported near US$605/t and domestic ex-tank levels firmer still on constrained supply. Methanol was mixed — soft in Northeast Asia spot terms yet firmer on China's futures curve. For contract buyers, forward cover on urea and bitumen remains the prudent stance. See available products — urea, sulphur, bitumen grades, base oils and methanol — on our Petrochemicals & Chemicals page.
Polymers — producers push increases through
Polymer sellers used the week to lift list prices. Indian producers raised PP, HDPE, LLDPE and PVC grades, with PP and PVC seeing the largest increases, as supply discipline outweighed softer international offers. China's futures were broadly steady, with PP and PVC contracts holding recent ranges. Net: converters face a firmer tone and should replenish selectively rather than delay. View resin and film options on our Plastics & Polymers page.
Freight & trade — the tariff clock
On the logistics side, transpacific container rates eased late in the week — China-to-US ocean freight fell by roughly US$1,000 per FEU as carriers trimmed pricing to stimulate demand after an early peak-season surge. Dry-bulk told the opposite story: the Baltic Dry Index advanced for a fourth straight session to its highest since mid-June, led by larger vessels. Trade policy was the week's wildcard, with the expiry of a temporary US import surcharge driving front-loading. Arian Holding's logistics and global sourcing teams factor these swings into landed-cost planning for every shipment.
The week ahead
Watch Chinese steel-output and property signals for iron ore's next cue; base metals for whether zinc's weakness spreads or reverses; urea and bitumen for whether the recent strength holds into August contracting; and freight lanes for the post-surcharge tariff picture. A selective, forward-cover approach across ferrous, fertilizer and polymers looks sensible into the new month.
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 (iron ore, steel, urea, methanol); LME Insight Weekly Review; Plastemart / ChemOrbis (polymers); Freightos and Hellenic Shipping News (freight); Baltic Exchange. Figures are indicative market levels for the week to July 26, 2026 and are provided for general information, not as trading advice.