China’s CMOC Group is pursuing measured growth and global expansion amid geopolitical and market uncertainties, with a focus on copper and gold and an emphasis on maintaining commercial independence and adaptability.

The DRC’s export quota system has tightened cobalt supply, driving price volatility and prompting shifts in sourcing strategies across the global market.

Abu Dhabi’s IRH Trading is accelerating its copper trading expansion, targeting 1 million tonnes per year by 2030. Backed by strategic mining assets in Africa and sovereign capital, the company aims to strengthen its global presence in metals trading while fostering long-term partnerships.

Geology not ideology: Why collaboration is key in the critical minerals supply chain

LME zinc stocks have fallen to their lowest levels since April 2023 but traders suggest the withdrawals are driven more by warehouse activity and speculation than genuine demand. Meanwhile, Europe’s sluggish consumption contrasts with swelling inventories in China.

Freeport-McMoRan has declared force majeure at its Grasberg mine in Indonesia following a fatal incident, with copper and gold output expected to fall 35% in 2026. The company projects a gradual recovery, with operations potentially returning to pre-incident levels in 2027.

Steel imports into Brazil are expected to decline further as Chinese tax changes and weak domestic demand weigh on the market. With interest rates at two-decade highs, both imports and local production are under pressure, though 2026 could bring short-term recovery tied to election-year stimulus.

The Democratic Republic of Congo has introduced cobalt export quotas following the suspension period, setting limits on shipments while outlining future allocations. The policy is designed to balance global supply and demand while supporting the country’s ambition to develop domestic processing capacity.

Europe’s battery industry is being urged to prioritise energy storage systems over electric vehicle competition with China, as rising AI-driven power demand and grid pressures highlight the need for scalable storage solutions.

The Mexican aluminium industry is navigating trade challenges as it seeks closer alignment with the US while reducing dependence on China, amid rising scrap prices, proposed tariffs and ongoing pricing uncertainty.