The surge in copper futures on the New York Comex exchange to record highs has triggered a short squeeze, leading to a scramble among traders to divert metal to US shores. The sudden rally, with Comex futures rising by more than 7% in a week, has resulted in the most-active July contract trading at unprecedented…

Asia’s manufacturing sector took a hit in July, with private-sector surveys indicating a broad-based slowdown across major economies as uncertainty over U.S. trade policy and weak global demand weighed heavily on business sentiment. The region, long reliant on export-driven growth, is now grappling with the consequences of U.S. President Donald Trump’s protectionist shift and ongoing tariff threats, which have disrupted long-established supply chains and muddied the investment climate.

Data released Friday showed factory activity contracting in key manufacturing powerhouses such as China, Japan, and South Korea, while some smaller economies also saw output decline or stall. While trade deals signed late in July by Japan and South Korea with Washington could offer some relief in the months ahead, the timing of the surveys, most of which were conducted before those agreements were finalized, means they reflect the full weight of tariff-related uncertainty.

US Steel, a prominent integrated steelmaker based in Pittsburgh, has taken a significant step toward a potential sale by entering into multiple confidentiality agreements with interested parties. This move is seen as part of the company’s efforts to ensure a public and competitive process for its potential sale. In a recent letter addressed to shareholders, US Steel’s Chief Executive David Burritt confirmed that the company has engaged in customary non-disclosure agreements with numerous third parties. This marks the initiation of sharing due diligence information with potential buyers, indicating the company’s willingness to explore its options in a transparent manner.