A week of tightening screws. Copper delivered the headline story — a record COMEX print and the longest run of LME stock declines since 2014 — while steel and iron ore quietly firmed, polymers extended their supply-driven climb and the cost of moving goods across the Pacific lurched higher. Here is the week in one view, then group by group, with links through to the relevant product catalogue pages.
Week at a glance
| Group | Net move | The week’s read | Catalogue |
|---|---|---|---|
| Steel & iron ore | Firmer | Turkish rebar up ~US$5/t w/w to US$575–585 FOB; Dalian ore and Qingdao spot both edged higher | Steel Products |
| Copper | Record squeeze | Record COMEX high midweek; LME stocks down a 42nd straight day; widest nearby spread since 2021 | Non-Ferrous |
| Aluminium & zinc | Firm | Aluminium near its best levels since June on falling LME stocks; zinc holding in the US$3,700s | Non-Ferrous |
| Industrial minerals | Stable | Barite, gypsum and aggregates steady on Gulf project demand; freight the main cost variable | Minerals |
| Petrochemicals | Mixed | Urea steadied near US$390/t after its slide; methanol and bitumen supported by tight supply | Petrochemicals |
| Polymers (PE/PP) | Higher | HDPE and PP extended gains as Hormuz-related feedstock disruption kept regional supply tight | Polymers |
| Container freight | Up | Drewry WCI +1% to ~US$4,340/FEU; Shanghai–New York spot up 10% on the week | Logistics |
Biggest movers of the week
Steel & iron ore
The ferrous complex firmed modestly. Turkish rebar moved up to roughly US$575–585/t FOB (about US$5/t higher week-on-week) with wire rod up a few dollars alongside, while CIS-origin rebar held steady at US$550–560/t, per Arab Iron and Steel Union assessments. In China, rebar futures rebounded above CNY 3,000 from early-August lows, and Dalian iron ore settled higher on Friday with Qingdao port spot offers up RMB 5–9 on the day; analysts continue to frame a US$95–115/t base-case range for 62% fines. For buyers this still looks like a window to cover forward programmes before any further momentum builds — see certified grades on our Steel Products and Semi-Finished Steel pages, part of the Industrial Products & Commodities sector.
Copper & non-ferrous
Copper dominated the week. September COMEX futures printed a fresh record above US$6.70/lb on Tuesday before easing, leaving the metal up around 18% year-to-date. The physical story is tighter still: LME stocks have now fallen for 42 straight sessions to about 205,000 tonnes, US refined imports topped 200,000 tonnes in July (a 12-year high) as buyers front-run a pending White House tariff decision, and the nearby LME spread reached its widest backwardation since 2021. Aluminium traded near its strongest levels since late June (cash around the US$3,300s) on declining LME inventories, and zinc held firm in the US$3,700s. Buyers of cathodes, ingots and billets should budget for elevated premiums and volatile spreads; specifications are on our Non-Ferrous Metals page.
Industrial minerals
A quiet week by comparison. Barite, gypsum, aggregates and cement clinker remained steady, underpinned by Gulf infrastructure and drilling demand, with landed cost driven more by freight than by FOB moves. Our quarry and partner network, supported by the group’s supply chain and logistics capability, continues to quote reliably across grades — browse the range on the Industrial Minerals page.
Petrochemicals
Mixed signals. Urea steadied near US$390/t midweek — a small bounce within a month-long downtrend that has taken prices about 5% lower, as Middle East supply concerns continue to ease. Methanol remained supported in Europe with posted contract prices around €915/t, and bitumen stayed firm on tight supply and seasonal paving demand. Contract buyers can still use urea’s pullback to build cover. Urea, sulphur, bitumen grades, base oils and methanol are all quoted through our Petrochemicals & Chemicals desk.
Plastics & polymers
Polymers extended their climb. Renewed disruption around the Strait of Hormuz kept feedstock deliveries delayed and regional operating rates reduced, with force majeure declarations still working through the system — ChemAnalyst notes HDPE remains roughly 40% above pre-crisis levels and expects packaging grades to grind higher through August, led by HDPE and LDPE. Converters holding thin stocks face the choice of paying up now or risking allocation later; our sourcing desk can quote multiple origins on the Plastics & Polymers page.
Freight & logistics
Drewry’s World Container Index rose 1% to about US$4,340 per 40ft, its second weekly gain, powered by the transpacific: Shanghai–New York up 10% and Shanghai–Los Angeles up 6%, with carriers cancelling around ten sailings in each of the past two weeks. Drewry expects rates to steady near-term as capacity stays managed — but for landed-cost budgeting, freight remains the swing factor on every tender.
The week ahead
Three things to watch: the pending US copper-tariff decision, which is now the single biggest driver of metal flows and spreads; Chinese stimulus signals, which set the tone for ferrous; and whether Hormuz-related polymer disruptions ease or harden into September allocations. With markets this bifurcated — tight metals and polymers against a steadier ferrous and minerals base — staggered forward cover remains the sensible play. Arian Holding’s global sourcing and quality assurance teams can structure multi-origin supply across all of the above — request a quote and the trade desk will respond with current, firm pricing for your specifications.
Sources: Arab Iron and Steel Union (Turkish/CIS rebar and wire rod); Hellenic Shipping News / MMI and Rio Times (iron ore); Bloomberg, Mining.com and CNBC (copper); AlCircle (aluminium); Trading Economics (urea, zinc); Methanex (methanol); ChemAnalyst (polymers); Drewry via Container News (freight). Figures are indicative market levels for the week of August 10–15, 2026 and are provided for general information only, not as trading, investment or procurement advice.