The US tungsten supply chain is entering a period of transformation as defense-related funding, new domestic projects, and global trade restrictions reshape market dynamics. The growing focus on national security and critical minerals is driving fresh momentum in US tungsten production.

Europe is facing a potential green aluminium deficit as production halts in Iceland and Mozambique threaten regional supply. Market analysts warn that the resulting shortage of low-carbon aluminium could reshape trade flows and drive higher premiums through 2026.

The Democratic Republic of Congo (DRC) and its southern neighbor Zambia are betting on winning more benefits from their copper endowment by directly trading the metal themselves while output and demand for copper surge,

Teck Resources exceeded expectations for Red Dog zinc concentrates shipments from Alaska amid trade challenges with China, while the company projected steady output for 2025 before gradual declines as the mine nears the end of its life.

Rising energy costs and policy decisions are shaping the future of US aluminium smelting. Domestic production, investment and competitiveness depend on low-cost power, tariff impacts and the transition to renewable and nuclear energy sources.

Freeport’s 2026 copper concentrate contracts introduce a higher floor-cap pricing structure that redefines industry benchmarks. The negotiations highlight broader shifts in global copper supply, smelting economics and pricing frameworks.

Brazil faces growing pressure to strengthen its steel import safeguards as global trade imbalances and new EU measures reshape export and import dynamics. Rising inflows from Asia threaten domestic mills, exposing weaknesses in Brazil’s trade defenses.

Barry Zekelman discusses how the domestic steel industry remains a cornerstone of America’s national security, energy independence and technological growth.

The US Defense Logistics Agency has canceled its contract opportunity to purchase up to 7,500 tonnes of alloy-grade cobalt due to unresolved issues with the statement of work. The cancellation comes amid a sharp rise in cobalt prices, with the agency indicating the solicitation will be reissued once the issues are resolved.

‘Animal spirits’ are back in the copper market as supply disruptions, declining ore grades, and rising demand push prices toward $19,000–$22,000 per tonne, with long-term demand supported by electrification, defense, and global infrastructure growth.