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China’s emergence over the past two decades has reshaped global trade. What began as rapid export-led expansion in the early 2000s has evolved into a far more strategic model: one centered on control of intermediate goods, deep integration into global supply chains, and the creation of structural dependencies across industries and regions, according to Mexico’s former ambassador to China, Jorge Guajardo.

The US has stepped up calls for its allies to accept higher costs for sourcing critical minerals outside China, arguing that supply chain security must take precedence over price efficiency – a stance that is reshaping expectations across metals markets but has yet to translate into durable pricing support.

European vegetable oil prices moved mostly higher week on week, supported by broader strength in underlying energy markets, where prices remained elevated amid mounting concerns over potential oil supply disruptions from the Middle East and the prolonged lack of resolution in the US-Iran conflict.

US wheat futures and Euronext contracts moved lower on Friday April 24, as profit taking and technical selling weighed on prices. Global cash markets were largely steady, with some trade reported across European origins, though broader sentiment remained cautious, with participants describing conditions as thin.

Few industrial transformations are as exposed to a single policy signal as green steel — where the EUA price can be the difference between a viable business case and a stranded asset.

North American automotive OEMs are navigating one of the toughest cost pressures today: raw material volatility. As supply chains become more localized through USMCA, the IRA, and reshoring, manufacturers continue to face rising material price risks.