The market opens the last full week of August with a clear split: raw-material-led weakness in ferrous, a tight and well-supported base-metals complex, and renewed cost push in the petrochemical chain flowing straight into resin offers. Freight has turned firmer again, which matters for landed cost on every bulk cargo. Each section below links through to the relevant product catalogue page for grades, specifications and quotations.
Today at a glance
| Commodity group | Direction | Read | Catalogue |
|---|---|---|---|
| Iron ore & steel | Softer | Ore near US$95/t, down roughly 3% on the month; Turkish rebar flat at US$575–585/t FOB | Steel Products |
| Copper | Firm | LME stocks drawing down; 2026 average forecasts revised higher | Non-Ferrous |
| Aluminium & zinc | Premium-led | Regional premiums at record highs; zinc balanced on cautious sentiment | Non-Ferrous |
| Industrial minerals | Stable | GCC project pipeline holding volumes steady for clinker, gypsum, aggregates | Minerals |
| Petrochemicals | Mixed | Urea firmer on the week but softer month-on-month; sulphur and methanol steady | Petrochemicals |
| Polymers (PE/PP/PVC) | Firmer | Hormuz disruption lifting PE and PP; PVC recovering after four soft months | Polymers |
| Dry bulk freight | Rising | Baltic Dry Index back above 2,800 with capesize leading | Logistics |
Steel & iron ore
Iron ore has been the weakest link in the complex through August. Trading Economics put the benchmark at roughly US$95 per tonne on August 21, down about 3% over the month and around 6% lower than a year ago, while 62% Fe Australian material was assessed near US$97/t CFR in mid-August. Finished long products have not followed the ore down: the Arab Iron and Steel Union reported Turkish rebar unchanged at US$575–585/t FOB in the third week of August, with CIS-origin rebar at US$550–560/t FOB. Billet, by contrast, firmed in several markets even as ore slipped.
For buyers this is a workable window rather than a falling market — mills are defending margin, so the discount is in the raw material, not the finished bar. Project buyers running Q4 programmes should be pricing certified tonnage now rather than waiting for rebar to track ore lower. Current grades and standards are listed on our Steel Products and Semi-Finished Steel pages, both within our Industrial Products & Commodities sector.
Copper & non-ferrous
Non-ferrous remains the structurally tight end of the market. Fastmarkets has revised its 2026 copper average higher, to roughly US$10,943/t from US$10,634/t previously, and LME copper inventories continue to draw — reported near 214,550 tonnes in mid-August after a further 3,750-tonne decline. In aluminium, the headline LME price is still well below the 2022 peak, but sharply higher regional premiums are pushing the all-in delivered cost to record levels, with LME stocks around 253,400 tonnes and falling. Zinc is the quieter of the three, held near balance by steady fundamentals and cautious investor positioning.
Buyer note: in aluminium the exchange price is now the smaller half of the conversation. Quote and budget on an all-in delivered basis — premium, freight and duty — or the landed cost will surprise you even in a flat LME week.
Cathodes, ingots, billets and wire rod specifications are set out on our Non-Ferrous Metals catalogue.
Industrial minerals
Industrial minerals stay the steadiest part of the book. GCC construction activity continues at a strong pace, with Saudi Vision 2030 mega-projects underpinning cement, clinker and aggregates demand and the region remaining import-dependent for gypsum board even as local manufacturing expands. Barite demand is holding on oilfield cementing and wellbore-stability work alongside its use as a filler in protective coatings. Availability across our quarry and partner network is reliable, with lab certification handled by our quality assurance team. Grades are listed on the Industrial Minerals page, part of our Mining, Minerals & Natural Stone sector.
Petrochemicals
The petrochemical chain is mixed but no longer falling. Urea firmed to around US$409/t on August 21 after a soft month — still down roughly 8% month-on-month and about 11% year-on-year, so the recovery is early rather than established. Sulphur eased marginally on the week in China but holds a near-3% monthly gain. Methanol is broadly flat month-on-month yet sits roughly 13% above last year, reflecting the firmer energy complex that is also supporting bitumen as the Northern Hemisphere paving season runs down. Contract buyers with unhedged Q4 nitrogen requirements have a narrower window than they did three weeks ago. Urea, sulphur, bitumen grades, base oils and methanol are on our Petrochemicals & Chemicals page.
Plastics & polymers
Polymers are the clearest mover this week. Renewed disruption risk around the Strait of Hormuz has tightened Middle East supply and lifted packaging resins through August, squeezing converters — with roughly 84% of Middle East polyethylene capacity dependent on the Strait and about 80% of Asia's seaborne naphtha demand historically Middle East-supplied. South Asian assessments on August 12 had PP film around US$1,265/t, HDPE film and blow near US$1,280/t, HDPE injection at US$1,270/t and LLDPE at US$1,255/t. PVC has staged its first meaningful recovery in almost four months across China and Southeast Asia as crude strength restored upstream cost support.
Converters should treat dips as cover opportunities rather than the start of a downtrend while the logistics risk premium persists. Resin and film options are on our Plastics & Polymers page.
Freight & logistics
Dry bulk has turned back up. The Baltic Dry Index closed the week at about 2,841 points, a 1.8% gain with all vessel segments contributing, after dipping to a multi-week low of around 2,815 earlier in the week. The capesize index — the segment that carries iron ore and coal — rose 2.8% to roughly 4,552 points, while panamax snapped a seven-session losing run at about 2,108. Firmer capesize rates partially offset the softer iron ore price on a landed basis, which is exactly the kind of interaction our supply chain and logistics desk prices into delivered offers.
What this means for buyers
The practical read for the week: take cover in ferrous where mills are holding but ore is soft, budget non-ferrous on all-in delivered cost rather than exchange prices, move early on nitrogen and resin where the risk is skewed to the upside, and check freight assumptions before signing anything CFR. Arian Holding's global sourcing team can structure compliant multi-grade supply across all of the above, with certification and shipment handled end to end. Request a quote and our trade desk will respond with current, firm pricing against your specifications.
Sources: Trading Economics (iron ore, urea, methanol, Baltic Dry Index); Arab Iron and Steel Union; Fastmarkets; London Metal Exchange; ChemAnalyst; ChemOrbis; Plastic4trade; IndexBox / Future Market Insights (GCC construction materials). Figures are indicative market levels around August 24, 2026, gathered from public reporting. This page is general market information, not trading, investment or procurement advice — confirm all pricing with our trade desk before contracting.