May 2026 Market Update

As we move through May, metals markets are beginning to show early signs of stabilization following the price increases and volatility seen in Q1. While pricing remains elevated across many categories, the pace of increases has slowed, and some products are beginning to trade within narrower ranges.

Raw material inputs — particularly nickel — continue to influence alloy pricing, though recent movement has been less extreme than in prior months. At the same time, the cobalt supply situation remains a developing factor, with potential implications for specialty alloys, though impacts remain limited for most standard products.

Year-to-date, most metals are still reflecting total movement in the 5–12% range, but May trends suggest a more balanced environment between supply and demand.

Market Headlines At-a-Glance

  • Price increases from Q1 are largely holding, with slower movement in May.
  • Nickel volatility has moderated but remains a key pricing driver.
  • Cobalt supply concerns persist but remain contained to select markets.

Nickel

Nickel pricing has stabilized somewhat, trading within a 4–7% range in recent weeks.

Market sentiment has improved slightly as supply remains consistent.

Aluminium

Aluminium pricing remains firm but relatively stable, with movement in the 2–3% range.

Energy costs continue to support pricing, though no major new increases have been observed.

Stainless Steel

Stainless surcharges remain elevated but are showing signs of leveling off month-over-month.

Mill pricing remains firm following earlier increases.

Titanium

Titanium demand remains strong, particularly in aerospace and defense.

Lead times remain extended at 20–30+ weeks, with limited near-term relief.

Copper, Brass & Bronze

Copper pricing has narrowed into a 3–6% fluctuation range, showing more stability.

Underlying demand remains strong due to infrastructure and electrification.

Brass and bronze continue to follow copper pricing trends.

Carbon Steel & Alloys

Carbon and alloy steel pricing remains firm following Q1 mill increases.

Spot pricing has held within a tighter ±2–3% range in May.

Cobalt Supply Watch

The cobalt supply situation continues to be monitored closely. While availability remains tight in certain global markets, widespread disruption has not materialized. Pricing pressure is most noticeable in specialty and high-performance alloys, with limited impact on standard grades.

Tariffs & Trade Considerations

Tariffs remain unchanged, continuing to influence domestic pricing structures and sourcing decisions. With stable mill pricing and moderated volatility, trade factors are now a more consistent — rather than disruptive — component of cost.

Blanket Orders: Creating Cost Certainty

With pricing stabilizing but still elevated, blanket orders continue to offer a strategic advantage. Locking in volume allows customers to manage cost exposure while ensuring material availability in a controlled supply environment.

As volatility moderates, this can also be an effective time to establish longer-term agreements with greater predictability.

Continental Steel & Tube continues to offer flexible blanket order programs tailored to your needs.

Looking Ahead

May reflects a more balanced market compared to earlier in the year. While pricing remains firm, reduced volatility and steady supply conditions are creating a more predictable environment for buyers.

Maintaining proactive communication and planning will remain key as we move toward the second half of 2026.

For questions, forecasts, or to discuss blanket order options, please contact us:

📞 954-332-2290
✉️ sales@continentalsteel.com

Your Continental Steel & Tube team is here to help you plan with confidence.