The European Commission's draft CBAM carbon price legislation, published May 13, sets out how carbon costs paid abroad will count toward EU import obligations. It also caps Article 6 credit usage at 10% of emissions and applies retrospectively from January 2026.

In this short episode of Fast Forward, Alex Kershaw, senior analyst for steel, raw materials and ferrous scrap at Fastmarkets, unpacks the recent volatility in global scrap steel markets and what is driving price movements across key regions.

As Brazil implemented protective measures against Chinese flat steel — enforcing anti-dumping duties on cold-rolled coil, coated steel, and pre-painted steel sequentially since early 2026 — China's monthly exports of finished steel to the country declined to their lowest levels since 2024, significantly reducing a market that previously consumed over 400,000 tonnes per month.

On Wednesday May 6, a critical minerals panel at Commodities Trading Week in London said metals markets are shifting from an energy transition-led narrative toward security of supply, leaving Europe particularly exposed because of its reliance on imports.

Capital is flowing back into junior mining, but selectively. Investment is increasingly favouring development‑stage assets with clearer paths to production, supported by government funding and strategic partnerships. While demand for critical minerals underpins the cycle, early‑stage explorers continue to struggle for capital as investors prioritise discipline, ESG alignment and near‑term cash flow.

For decades, tungsten sat on the margins of US industrial policy. Despite its essential role in armor piercing munitions, aerospace alloys and advanced manufacturing, the ultra hard metal was sourced overwhelmingly from China, while US domestic mining faded from view.

Aluminium markets in the US and Mexico are facing an unprecedented mix of geopolitical disruption, trade policy shifts and tightening supply conditions.

The China Zinc Smelter Purchase Team (CZSPT) set its buying guidance for imported zinc concentrate treatment charges (TCs) at $35-70 per tonne for the second quarter of 2026 during a meeting held in Chengdu, China.

The Chicago Mercantile Exchange (CME) lithium carbonate futures contract achieved its second consecutive record monthly trading volume in April, according to CME data.

The Canada HRC hot-rolled price hovered around C$55 ($40) per hundredweight as market participants reacted with dismay to new US policies that affect the way tariffs are calculated on derivative metals products.