In China's steel scrap market, resilient mill demand, tight supply, and firm coking coal and coke prices supported scrap consumption and prices in H1 2026. China's scrap imports rose sharply in H1, driven mainly by stainless steel scrap, while global trade flows were reshaped by geopolitical tension

Over the past six months, both the coking coal and thermal coal markets have been shaped by tighter domestic supply, mine safety inspections, shifting import flows, higher logistics costs, and evolving downstream demand. In the coking coal market, supply disruptions have created persistent tightness

Copper prices recorded strong growth from late July to early August 2026, aligning with the firm fundamentals and indicating that recent macro influences have shifted to price supporting. Compared with previous years, geopolitical risks, Federal Reserve policy shifts and U.S. trade measures as major