Read Fastmarkets' monthly base metals market for May 2025 focusing on raw materials including copper, nickel aluminium, lead, zinc and tin.

The US trade roller coaster ride seems to be flattening, with signs of potential moderation and stability. It appears increasingly likely that our original expectation that the US Trump administration would primarily use the threat of tariffs as a negotiating strategy will be correct. While we do not expect to the US tariff position return to pre-2025 levels, we believe the overall US tariff burden is more likely to settle at around 10-30% globally rather than the elevated rates of 50-100% that seemed possible in recent weeks.

Learn how timber imports affect the US economy regarding Canadian softwood lumber and future trade policies.

The recent US-China agreement to temporarily reduce tariffs is a major step for global trade, with tariffs on US goods entering China dropping from 125% to 10% and on Chinese goods entering the US decreasing from 145% to 30% starting May 14. While this has boosted markets and created optimism, key industries like autos and steel remain affected, leaving businesses waiting for clearer long-term trade policies.

BEK pulp prices in Europe dropped $40/tonne in April, driven by US import tariff uncertainties and weaker demand in China.

The US-China trade truce announced on May 12 has brought cautious optimism to China’s non-ferrous metals markets, signaling a possible shift in global trade. Starting May 14, the removal of additional tariffs has impacted sectors like battery raw materials, minor metals and base metals such as zinc and nickel, with mixed reactions. While the improved sentiment has lifted futures prices and trade activity, the long-term effects remain unclear due to challenges like supply-demand pressures and export controls.

Explore the current trends in the wood market as prices for framing lumber continue to decline amidst economic uncertainty.

Explore the latest trends in packaging prices in the GCC region, focusing on recycled fiber-based containerboard in April.

The US-UK trade deal removes Section 232 tariffs on British steel and aluminium, reduces automotive tariffs and sets a framework for addressing global trade issues.

Ford Motor Company will offset $1 billion of an expected $2.5 billion exposure from tariffs and remains "on track and within our original full-year guidance range of $7 billion-8.5 billion" in operating earnings for 2025, Jim Farley, president and chief executive officer, said during the automaker's first-quarter earnings call on Monday March 5.