May 7: The U.S. Court of International Trade ruled that President Trump did not have the authority to impose a 10% global tariff under Section 122 of the Trade Act, finding the tariff did not meet the law’s criteria for when import surcharges are allowed, and declaring President Trump’s proclamation and the tariff invalid.

The copper market remains volatile following record price highs in January; aluminum and PVC markets continue to face supply shocks tied to geopolitical conflict.

A temporary U.S.-Iran ceasefire eases pressure, but freight, fuel and labor risks remain elevated.