The Best Way presents its general trading brief for Friday August 28, 2026 — and rarely have our markets diverged so sharply. Wood is falling, copper flirts with records, aluminum runs a structural deficit, and steel is split in two by tariffs. For traders, builders, and importers, here is the map.
WOOD — buyer’s market forming: US lumber futures have slumped to about $559.50 per thousand board feet — the lowest since April, down 12% on the month — after US-Canada trade talks collapsed just before the tariff deadline (killing hopes of removing a 10% lumber tariff, with 50% tariffs hitting several Canadian wood products and ~35% duties persisting) and US housing starts fell 12.4% in July. From July’s $640+ high, the retreat is complete. For importers and project buyers: weak Western demand is freeing supply and softening prices — a genuine procurement window, though plywood (+11% on the quarter) marches to its own drum.
COPPER — the year’s bull: The Hormuz closure squeezed sulfur and sulfuric acid supply (essential for copper processing), helping drive copper to a record ~$14,527 per tonne mid-year; J.P. Morgan sees $14,800 by Q4 on tight mines, the electrification boom, and tariff threats. Scrap copper remains the standout, up sharply in recent sessions. For anyone holding copper inventory: strength persists; for buyers: hedge forward needs.
ALUMINUM — deficit economics: The war disrupted two of the world’s largest smelters in the Gulf, and a ~1.7 million tonne primary deficit is working through 2026. Prices are forecast near $3,800/tonne this quarter, with upside risk if China curbs exports. US aluminum opened around $2.65/lb with the Midwest premium elevated. Buyers should secure Q4 volumes early.
STEEL — a tale of two markets: The global HRC benchmark sits near $1,186/tonne, but geography is everything: tariffs keep US and EU prices elevated while China’s property slump drags Asian prices down — and Asian sheet keeps flowing into the US regardless. For traders, the arbitrage is the story; for buyers, sourcing flexibility is worth real money.
The Best Way’s read: Sell strength in copper cautiously, buy weakness in wood deliberately, contract aluminum early, and source steel globally. Diverging markets punish habit and reward homework — which is precisely our trade. Contact us for quotations across timber, aluminum, steel, and project supply.
