Price data, forecasts, insights and events for commodity markets

Own-sourced copper output from Glencore’s African copper assets — KCC and Mutanda in the Democratic Republic of Congo — surged by 68% year on year to 67,900 tonnes over the same period, while Glencore’s cobalt production fell by 39% year on year amid the DRC’s export quota system.

A new US-backed structure is attempting to turn critical minerals inventory from a cost burden into a strategic asset. Project Vault combines pooled demand, private governance and capped-return financing to create a shared supply buffer—and potentially the first steps toward price discovery in fragmented markets.

US steel mills were operating in April 2026 at their highest capacity utilization rate since 2024, but because many domestic producers have gone long on contracts this year, buyers continued to report difficulty in securing tonnages of steel hot-rolled coil on the spot market.

March reinforced a cautious, largely stable European sawn timber market, with only selective price moves. Rising Nordic log costs, weather and geopolitical uncertainty are tightening margins, while UK inventory overhang and storm-related supply risks could drive volatility into Q3.

GCC recycled containerboard prices rose in April as Middle East disruptions lifted costs. On May 5, Fastmarkets’ PIX Testliner GCC and PIX Fluting GCC indices increased, while demand diverged between Saudi Arabia and the UAE.

Copper’s long-term outlook is constrained by the industry’s limited ability to bring new supply online fast enough to meet rising demand, with permitting delays, higher capital costs and policy risks slowing project development, industry executives said at the FT Commodities Global Summit on Wednesday April 22.