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MLB trade rumors: Giants ‘aggressively pursuing’ second baseman

The San Francisco Giants are in the market for a second baseman as they look to improve their roster ahead of the 2026 season.

San Francisco has reportedly been linked to both the St. Louis Cardinals’ Brendan Donovan and the Chicago Cubs’ Nico Hoerner, according to ESPN’s Jeff Passan, as the Giants continue to engage in trade discussions around MLB.

Passan said on X, formerly Twitter, that the Giants are ‘aggressively pursuing’ a second baseman.

Brendan Donovan 2025 stats

Donovan to the Giants has been whispered throughout the offseason.

It’s no secret that the soon-to-be 29-year-old was on the market, and San Francisco wanted to upgrade the second base position.

Donovan hit a career-best .287 with 10 homers, 32 doubles and 50 RBIs in 118 games in 2025. He proved to be a team leader for the Cardinals, both on and off the field, and was named an All-Star.

Donovan won a Gold Glove Award in 2022.

He ranked in MLB’s 96th percentile in batted balls being squared up (36.8%) and in MLB’s 95th percentile in whiff rate (13.4%) in 2025, according to Baseball Savant. He struck out just 13% of the time, which ranked in MLB’s 92nd percentile.

Nico Hoerner 2025 stats

Given the Cubs are signing Alex Bregman, there’s a likely chance that Hoerner is traded.

If Hoerner is dealt to the Giants, it would be a Bay Area homecoming for him. Hoerner is an Oakland native and later enrolled at Stanford University, where he played college baseball.

Hoerner, a seven-year MLB veteran, has been in the big leagues since his debut in 2019.

Last season, Hoerner had a batting average of .297 with seven home runs, 29 doubles and 61 RBIs in 156 games played. According to Baseball Savant, Hoerner ranked in MLB’s 96th percentile for batted balls (36.5%), as did Donovan. Hoerner’s whiff rate (11.2%) is in the 99th percentile in MLB. He also ranked in the 99th percentile in strikeouts (7.6%).

Latest Giants rumors and transactions

The Giants have made a couple of moves during this offseason.

San Francisco added to its bullpen, signing right-handed pitcher Tyler Mahle to a one-year deal on Jan. 5. A month before the Mahle signing, the Giants worked out a deal to bring in Adrian Houser on a two-year deal.

The Giants are looking to improve their infield and are sure to be buyers this offseason as spring training continues to slowly approach.

This post appeared first on USA TODAY

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Ryan Weathers trade grades: Who won Yankees-Marlins deal?

For the second time in as many weeks, the Miami Marlins traded from their starting pitching surplus.

After trading Edward Cabrera to the Chicago Cubs on Wednesday, Jan. 7, the Marlins on Jan. 13 agreed to a trade to send left-handed pitcher Ryan Weathers to the New York Yankees for a package featuring four hitting prospects.

The prospect package headed back to Miami is headlined by outfielder Dillon Lewis, who MLB.com ranks as the Yankees’ No. 16 prospect in their system. Lewis, according to The Athletic’s Ken Rosenethal, was a name that Miami was seeking from the Yankees in talks for Cabrera.

Weathers, 26, is the son of longtime MLB pitcher David Weathers, who was actually traded from the then-Florida Marlins to New York at the 1996 deadline. Ryan Weathers went 2-2 in eight starts in 2025 with a 3.99 ERA in 38⅓ innings.

Ryan Weathers trade grades

New York Yankees

Weathers joins a Yankees rotation that will be down Gerrit Cole and Carlos Rodón to start the season due to injuries. If Weathers remains healthy, he could slide into the rotation with Max Fried, Cam Schlittler and Will Warren, until Cole and Rodón return.

Health, however, has been a major detriment for Weathers in his young career. Over the last two seasons, he has been limited to just 24 starts and 125 innings.

When healthy, Weathers features a fastball that averaged 96.8 mph in 2025, per FanGraphs, and can also miss bats with his changeup and sweeper.

Miami and Weathers settled on a $1.35 million salary last week, avoiding arbitration. Weathers is eligible for arbitration twice more and will not be a free agent until the 2028-29 offseason at the earliest.

Grade: B+

Miami Marlins

Surprisingly, the Marlins are moving a second starting pitcher in as many weeks. Miami is clearly seeking to prioritize adding hitting prospects into its system, acquiring the quartet of Lewis, Brendan Jones, Dylan Jasso and Juan Matheus.

Lewis, according to The Athletic’s Ken Rosenethal, was a name that Miami was seeking from the Yankees in talks for Cabrera. The 22-year-old outfielder was a 13th-round pick in 2024 out of Queens University of Charlotte. He posted a .237/.321/.445 slash line with 22 home runs and 26 stolen bases in 2025.

Jones is ranked as the No. 15 prospect in New York’s system, per MLB.com. He hit for a combined .245/.359/.395 line between High-A and Double-A with 51 stolen bases in 60 attempts in 2025.

MLB.com ranks Jasso as the 23rd prospect in the Yankees’ system. The former undrafted prospect hit .257/.326/.400 with 13 homers in Double-A in 2025.

Matheus finished with a .275/.365/.376 line with 40 stolen bases in A-ball last season.

Despite trading Weathers and Cabrera in the last two weeks, the Marlins still have former Cy Young pitcher Sandy Alcantara and Eury Perez atop the rotation for 2025. Braxton Garrett and Max Meyer should slot into the 3-4 pitching slots, while prospects Thomas White and Robby Snelling reached Triple-A in 2025 and could crack the rotation sometime in 2026.

Grade: A-

This post appeared first on USA TODAY

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Cardinals end year-long saga by finally trading 8-time All-Star

PHOENIX — The Arizona Diamondbacks tried to trade All-Star second baseman Ketel Marte, flirted with free agent third baseman Alex Bregman, and wound up Tuesday acquiring Nolan Arenado.

This outcome wasn’t on the D-backs’ winter bingo card, but for a team trying to stay competitive in the National League West while still reducing payroll, they’ll take it.

Certainly, acquiring a 10-time Gold Glove winner and eight-time All-Star for the price of a fringe prospect, with the Cardinals paying most of Arenado’s salary, turned out to be a perfect fit. Arenado still has two years and $42 million left on his contract, but the Cardinals are paying $31 million of his deal, wity the D-backs responsible for just $5 million this year and $6 million in 2027.

They didn’t even have to give up a top-30 prospect with right-hander Jack Martinez, an eighth-round draft pick from Arizona State a year ago, going to the Cardinals. Martinez has yet to make his professional debut.

“We think he really solidifies our defense in the infield,’’ said Mike Hazen, D-backs president of baseball operations. “That’s been a priority for us to improve our defense, which I believe is going to have a direct impact on our pitching in a significant way.’

Really, the trade was made to accommodate Arenado, 34. He didn’t want to remain in St. Louis since they are in a full-scale rebuild, and the Cardinals wanted to give playing time to their young players.

Certainly, the Cardinals would have received a much greater return a year ago but Arenado exercised his no-trade rights to veto a trade to the Houston Astros. He also told the Cardinals that he didn’t want to join the Los Angeles Angels after they expressed interest. His hope was to be traded last spring to the Boston Red Sox and join his former Colorado Rockies teammate Trevor Story, but the Red Sox instead signed Alex Bregman to a three-year, $120 million contract.

The Red Sox lost Bregman on Saturday when he signed a five-year, $175 million contract with the Chicago Cubs, but the Red Sox had no interest in Arenado this time around. He fell into the D-backs’ laps when the Cardinals agreed to pay three-quarters of his contract.

The Diamondbacks are hoping that Arenado not only bounces back after his struggles last season, but provides veteran leadership to their young clubhouse. Bregman’s leadership skills also attracted the D-backs, who were interested in potentially signing Bregman, but only if they were able to trade Marte.

“We’ve always liked the way he’s played the game,’’ Hazen said. “The impact he can have when he’s not playing, inside the walls, is important to us. He’s a good fit from that standpoint too.

“I know how much winning means to him, and it’s important to us.’

Arenado, who has a home in Orange County, Calif., told USA TODAY Sports in a text message Tuesday that he is thrilled to be joining the D-backs and will look for a home in the Phoenix area. He used to have a home in Scottsdale when he played for the Colorado Rockies, and was a frequent visitor at former D-backs World Series hero Luis Gonzalez’s home to use his batting cages.

Arenado, 34, has struggled the past two years, but believes he can be a productive third baseman, and optimistic that he will bounce back from last year’s dismal season. He played in only 23 games the second half of last season with a right shoulder strain, hitting just .237 with 12 homers – his lowest total since 2013. Arenado replaces veteran Eugenio Suarez, who was traded to the Seattle Mariners at last year’s trade deadline.

“We definitely see the ability to bounce back here,’ Hazen said. “We’re excited about that. We know how much work he’s going to put into that. I know he’s going to put in every amount of work and energy into doing that, and we probably have a little better ballpark to hit in.

“So, we look for him to be a solid offensive contributor for us in our lineup. With the firepower we have at the top of our lineup, we’re not looking for him to carry the offense. We don’t need him to carry the offense. We need him to solidify and stabilize our defense, that’s a huge component to this.’

The Diamondbacks, who won the National League pennant in 2023 but missed the playoffs the last two seasons,  are hoping to stay in contention until their team gets healthy. Ace Corbin Burnes, who signed a $210 million contract last winter, is expected to return in the second half after recovering from Tommy John surgery. They also expect to have left fielder Lourdes Gurriel and co-closers A.J. Puk and Justin Martinez back before the end of the season.

They brought back free-agent Merrill Kelly on a two-year contract after trading him to Texas at last year’s deadline, and also signed veteran starter Mike Soroka. They still are searching for bullpen help and signed veteran reliever Jonathan Loaisiga to a minor-league contract Tuesday with an invitation to their spring training camp.

“I don’t think we’re anywhere close to one player away from being the best team we can possibly be,’ Hazen said. “We need to continue to shore up multiple areas of our team, and that includes the bullpen and the position player group. We will see what happens between now and opening day.’’

Nolan Arenado trade details

Cardinals get:

  • Minor-leaguer Jack Martinez

Diamondbacks get:

  • 3B Nolan Arenado
  • $31 million

Nolan Arenado contract

  • 2026: $27 million ($5 million paid by Colorado Rockies)
  • 2027: $15 million
This post appeared first on USA TODAY

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The NFL’s 8 remaining playoff teams, ranked based on Super Bowl odds

After an exciting wild-card weekend, just eight teams still have a chance to win Super Bowl 60.

The landscape across the NFL shifted considerably during the wild-card round. Notably, the Philadelphia Eagles – the reigning Super Bowl champions who entered the playoffs with the fourth-shortest Super Bowl odds – were upset by the San Francisco 49ers, slightly shifting the power structure atop the NFC.

Elsewhere, the Buffalo Bills’ advancement to the divisional round after a 27-24 win over the Jacksonville Jaguars has them climbing the AFC pecking order.

Here’s a look at how the teams remaining in the 2025 NFL playoff race stack up based on their odds to win Super Bowl 60.

NFL rankings by Super Bowl odds

All odds listed are provided by BetMGM Sportsbook. Access USA TODAY Sports Scores and Sports Betting Odds hub for a complete list.

1. Seattle Seahawks (+300)

The Seahawks remain the betting favorite to win Super Bowl 60. Seattle got a week off during the wild-card round after earning the NFC’s No. 1 seed behind a defense that ranked No. 2 overall in defensive EPA per play, per the NFL’s Next Gen Stats. They now draw a divisional-round matchup against a 49ers team they beat 17-3 in Week 18 to officially win the NFC West and the conference’s No. 1 seed.

2. Los Angeles Rams (+320)

The Rams got a scare from the 8-9 Carolina Panthers in the wild-card round, but bettors aren’t shying away from backing Sean McVay’s squad. Matthew Stafford is playing at an MVP level as part of a balanced offense that has gotten plenty of production out of Puka Nacua, Davante Adams and Kyren Williams this season. Their defense has allowed 30 points per game over its last five outings, but Sean McVay’s offense – which leads the NFL in scoring at 30.7 points per game – is plenty good enough to carry the team to victory.

3. Buffalo Bills (+550)

The Bills edged the Jaguars in the divisional round and are now favored to win the AFC. Josh Allen has the best combination of talent and experience among the quarterbacks remaining on the AFC side of the bracket, so it’s easy to see why the sportsbooks like Buffalo. Still, the Bills have some defensive issues – particularly on the ground, where they allow 137.2 yards per game, fifth-most in the NFL – that could trip them up.

4. New England Patriots (+600)

New England’s defense dominated in a 16-3 win over the Los Angeles Chargers in the wild-card round. Will they be able to continue doing so if Christian Gonzalez has to miss time because of a concussion? That remains to be seen. The Patriots will also need Drake Maye to perform better – a fact the 23-year-old quarterback acknowledged – after he committed two turnovers and was sacked five times against the Chargers.

5. Denver Broncos (+750)

The Broncos have dropped to No. 3 in the AFC pecking order after drawing the Bills in the divisional round. Denver is well-rested after a bye and should be able to bother Allen with a pass rush that generated a league-high 68 sacks in 2025. Any hope of the Broncos making a Super Bowl run will rest on their defense playing well and getting a home-field edge from playing at Empower Field at Mile High Stadium.

6. Houston Texans (+850)

The Texans have the NFL’s No. 1-ranked defense in terms of EPA per play, according to the NFL’s Next Gen Stats. So long as C.J. Stroud and Houston’s offense can be efficient, the Texans will have a chance to prove true the old ‘defense wins championships’ mantra.

7. Chicago Bears (+1400)

Caleb Williams just led the Bears to an 18-point, come-from-behind win against the Green Bay Packers in the divisional round. It marked the team’s seventh fourth-quarter comeback win of the season. Can Chicago continue to deliver in those spots? It won’t be easy as the team’s bottom-six pressure defense prepares to face Stafford, a quarterback who is elite when kept clean, and the Rams.

8. San Francisco 49ers (+2000)

The 49ers upset the Eagles despite pressuring Jalen Hurts just six times. San Francisco has the third-lowest pressure rate in the NFL, so the team’s struggles in the area were hardly a surprise. Unless Robert Saleh can scheme up a way to generate more heat on opposing quarterbacks, it will be hard for the 49ers to contain top offenses. Add in the absence of George Kittle (torn Achilles) on the other side of the ball and it’s easy to see why oddsmakers aren’t bullish on the 49ers.

This post appeared first on USA TODAY

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Vikings’ Jordan Addison arrested in Florida on Jan. 12

Seminole Police Department officers arrested Minnesota Vikings wide receiver Jordan Addison early in the morning on Jan. 12, Hillsborough (Florida) County Sheriff’s Office records show.

According to the sheriff’s office records, police arrested Addison at the Seminole Hard Rock Hotel & Casino Tampa on a first-degree misdemeanor allegation of trespassing in an occupied structure or conveyance.

Police released the Vikings’ wideout at 2:40 p.m. after he paid bail for a $500 cash bond, less then 11 hours after his arrest at 3:46 a.m. and seven hours after police booked him at 7:33 a.m, according to the publicly available records.

Addison’s agent, Tim Younger, posted a statement to social media on Jan. 13: ‘On Jordan’s behalf, his legal team has already initiated the investigation, identified witnesses, and we are reviewing the viability of a claim for false arrest. He looks forward to the legal process and upon full investigation, we are confident Mr. Addison will be exonerated.’

The incident marks the third run-in with police Addison has had in the last four years.

Before his rookie year in 2023, Minnesota State Patrol cited Addison for speed and reckless driving when an officer observed the Vikings’ wide receiver driving 140 mph in a 55 mph speed limit zone. He pleaded guilty to a petty misdemeanor speeding charge and paid a $686 fine in addition to having his license suspended for six months.

In 2024, California Highway Patrol officers arrested Addison under suspicion of driving under the influence of alcohol (DUI). An officer found the wide receiver asleep at the wheel of his car, which was blocking traffic on Interstate 105 near Los Angeles International Airport. About two weeks later, police charged Addison with two misdemeanors: driving under the influence of alcohol and driving with blood-alcohol content over California’s legal limit of .08 percent.

Addison agreed to a plea deal for a lesser, ‘wet reckless’ charge, which is a reckless driving charge acknowledging the influence of alcohol. It carries less severe penalties than a DUI and does not result in a DUI conviction being recorded on a criminal record, according to legalclarity.org. The NFL suspended Addison for the first three games of the 2025 season following his guilty plea.

The Vikings wide receiver finished the 2025 season with 12 starts in 14 games and career lows in receptions (42), yards (610) and touchdowns (3). He also rushed twice for a career-high 81 rushing yards and a rushing touchdown.

(This story has been updated with new information.)

This post appeared first on USA TODAY

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Sankamap Provides Update on Late Filing of Financial Statements and Extension of MCTO

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that it has received the crucial confirmations from the Solomon Islands government, and that the majority of the audit work has now been completed, with only a limited number of minor confirmations and outstanding items remaining. The Company is actively working to provide the remaining items and is contacting any parties from whom confirmations are still outstanding. Subject to the completion of these remaining items, the audit file is expected to enter the final stages of review and be nearing completion.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025 and December 30, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280320

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Iron Ore Price Forecast: Top Trends for Iron Ore in 2026

Iron ore prices have strengthened since bottoming out in September 2024, but the base metal faced headwinds in 2025 as tariff threats and investor uncertainty weighed on the market.

Usage in steel makes iron ore one of the most widely used and essential materials in the world, and as a result its fortune is highly dependent on the strength of the construction and manufacturing sectors.

Iron ore has also seen increased demand from electric vehicle (EV) batteries over the last several years.

Among all countries, China leads the world in steel production, but lacks domestic supply to meet demand; it is also the world’s largest importer of base metals. As one of the biggest manufacturing bases and a significant source of demand for construction and EV production, China exerts considerable influence on iron ore prices.

Additionally, as 2026 begins, the definitive period for the EU’s Carbon Border Adjustment Mechanism (CBAM) is starting — it will apply levies to high-carbon imports such as steel.

How did iron ore prices perform in 2025?

Iron ore started 2025 at US$99.44 per metric ton (MT) on January 6, then hit US$107.26 on February 12.

The start of March saw a steep decline for prices as they retreated toward the US$100 mark, then climbed back to US$104.25 on April 2; a rout in the base metals market saw prices fall to US$99.05 on April 9.

While other metals recovered, iron ore continued to track lower, reaching US$97.41 on May 5 and ultimately sinking to a yearly low of US$93.41 on July 1. During the third quarter, iron ore prices gained momentum, rising above the US$100 mark in August and reaching a quarterly high of US$106.08 on September 8.

Prices were largely rangebound in Q4, dropping below US$104 only once on November 7, then recovering to post a yearly high of US$107.88 on December 4. Prices had retreated to US$106.13 by December 5.

Key iron ore price drivers in 2025

All in all, prices for iron ore didn’t fare too badly in 2025.

The biggest factor affecting growth was a significant fall-off during the first half of the year as pressures mounted from a continuing slump in the Chinese property sector and the threat of US tariffs.

The Chinese real estate sector has been in steep decline since 2021, when two of the nation’s top developers — Country Garden and Evergrande — declared bankruptcy after incurring hundreds of billions of dollars in debt. Since then, the government has introduced various stimulus measures, but has failed to turn the sector around.

As mentioned, because of the sheer size of the property market in China, it is a significant demand driver for steel products and has an outsized influence on the global iron ore market.

Another noteworthy headwind for iron ore price levels this past year was the threat of US tariffs. In early April, US President Donald Trump announced his “Liberation Day” tariffs, which applied a 10 percent levy across the board, and threatened retaliatory tariffs to close trade deficits with most countries.

The move sparked fears of a global recession and triggered a rout in equities and commodities markets, sending prices plunging. However, most markets rebounded quickly as plans were dialed back after a squeeze in the bond market that sent 10 year treasury yields up by more than half a percentage point.

Further iron ore price pressures came later in the year, when the massive Simandou mine in Guinea shipped its first iron ore, destined for smelters in China, on December 2.

Two consortia of companies own the mine. Blocks three and four have a 45/40/15 ownership split between Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Chinalco and the Guinea government, and blocks one and two have a 45/35/20 split between Winning International, China Hongquiao Group (HKEX:1378,OTCPL:CHHQF) and United Mining Supply.

The mine will ramp up production over the next 30 months, and is expected to produce 15 million to 20 million MT in 2026 and 40 million to 50 million MT in 2027.

What trends will move the iron ore market in 2026?

“Construction accounts for about 50 percent of steel consumption in terms of end users. The weakness of the property market has, of course, weighed on steel demand and therefore pig iron production. However, the driver for China’s steel production has been industrialisation and urbanisation during the past two decades,” he said.

Sardain went on to state that despite a shift in focus from fixed assets to manufacturing, services and technology, overall steel demand is set to move lower. Although the decline won’t last forever and the property market will stabilize, the effect of even a mild rebound on steel production will be limited:

“However, steel production and iron ore demand have been supported by strong exports in markets such as Southeast Asia, East Asia, the Middle East, Latin America and Africa, mitigating the impact of a lower domestic steel demand. Whether steel exports can increase from their current level is debatable, and we forecast a lower steel production in China over time.’

On the tariff front, US levies aren’t likely to have much impact. Sardain pointed out that while US steel demand exceeds its production capacity, Chinese imports remain a minimal factor.

Meanwhile, the US is primarily producing steel in lower-carbon electric arc furnaces from ferrous scrap.

Although steel tariffs from Canada and Brazil are set at 25 and 50 percent, respectively, both countries have exemptions for iron ore pellets, and Canadian ferrous scrap is covered under CUSMA provisions.

But with the trade pact set to be renegotiated in 2026, it’s uncertain what it means for steel and, by extension, iron products, in the midterm. The best-case scenario is that Canadian steel will receive an exemption.

Still, the risk remains that current CUSMA blanket exemptions will be removed, allowing the US to apply additional tariffs on Canadian goods crossing the border. Likewise, in Europe, the CBAM came into effect on January 1, 2026.

While the impact may take some time to work through the market, it will still have downstream effects for producers that want to avoid tariffs on imported products. This may be one reason Chinese steel producers are switching from higher-carbon blast furnaces to electric arc furnaces in the smelting process.

“Currently, electric arc furnaces account for about 12 percent of China’s steel production, set to increase to 18 percent by the first part of the next decade,” Sardain said, noting that China is looking to cap its emissions by 2030.

The main challenge for iron ore is waning demand, as the primary input for electric arc furnaces is scrap steel, not raw iron. “Countries which will see their steel production increasing (primarily India, but to some extent Russia, Brazil or Iran) are not iron ore importers because they are self-sufficient. Steel production in the EU is flat to lower with more production coming from electric arc furnaces as part of the decarbonisation process,” Sardain said.

Soft demand growth, however, is expected to meet increasing mine supply, further dragging on prices in 2026.

Sardain suggested that all major iron ore miners will increase their production in 2026, with the largest boost coming from Guinea’s Simandou, which could shake up supply chains.

“The blocks one and two are owned by a Chinese-Singaporean consortium. It will provide China with the opportunity to diversify its supply from the major Australian producers (something that the country tried to do for the past 15 years unsuccessfully) and it will shift the supply-demand momentum in favour of China,” he said.

Additionally, the mine is important because of its 65 percent iron content.

Iron ore price forecast for 2026

Sardain expects iron ore prices to remain muted in 2026.

“We believe that price should drop below the US$100 per MT mark, although it could stay above this level in H1 due to seasonality … so, overall, prices staying between US$100 to US$105 per MT in H1, then declining below US$100 per MT in H2, with the ramp-up of the Simandou mine being a determining factor,” he said.

This is largely in line with estimates from other firms. BMI is predicting a 2026 price of US$95, while RBC Capital Markets sees iron ore averaging US$98; the overall consensus stands at US$94.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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Andy Schectman: Silver Price Breaking Out, Room to Run by Every Metric

Andy Schectman, president of Miles Franklin, breaks down recent silver market dynamics, including the massive rise in entities standing for delivery of physical metal, increased CME Group (NASDAQ:CME) margin requirements and China’s silver export controls.

‘We’re beginning to see at the highest level a change of mentality, a change of perception of what these metals truly are,’ he said in the interview.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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CoTec to Host Investor Update

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 14, 2026 / CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to announce that the Company’s CEO, Julian Treger, will host an investor update on Friday, January 16, 2026, at 8:00 a.m. PST / 11:00 a.m. EST.

The update will highlight recent platform and strategic developments across the CoTec portfolio. Management will provide a high-level update on progress at MagIron, a CoTec investment advancing a U.S.-based iron ore and metallics strategy, as well as HyProMag USA, and discuss other key initiatives currently being advanced by the Company. The presentation will also include management’s outlook for 2026, outlining priorities, upcoming milestones, and areas of focus for the year ahead. A Q&A session will follow the presentation.

Investors who wish to attend the presentation may do so by clicking here to register.

Should the above link not work, please copy and paste the following link to your web browser: https://us06web.zoom.us/webinar/register/WN_0NBXb4IIRXOVP0d2l7j5Vg#/registration

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Eugene Hercun, VP Finance, +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

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Cobalt Market 2025 Year-End Review

The cobalt market entered 2025 under pressure from a prolonged supply glut, but the balance shifted sharply as the year unfolded, due almost entirely to intervention from the Democratic Republic of Congo (DRC).

After starting the year near nine year lows of US$24,343.40 per metric ton, cobalt metal prices had risen to US$53,005 by the end of December, pushed upward by supply concerns stemming from export limits in the DRC.

“The cobalt market in 2025 was characterised by a significant price recovery following the DRC banning the export of all cobalt from its borders in February,” said Aubry. “By the end of 2025, sulphate prices increased 266 percent, hydroxide increased by 328 percent and metal prices by 130 percent year-to-date.”

Q1: Cobalt moves from glut to supply shock

As mentioned, cobalt metal prices hit their weakest level since 2016 in January. Global mine output had more than doubled over five years, far outpacing demand growth from electric vehicles and other end uses.

That dynamic changed abruptly in late February, when the DRC — which supplies roughly three-quarters of the world’s cobalt — imposed a four month suspension on cobalt hydroxide exports.

The news lifted cobalt from US$24,495 at the start of the year to above US$34,000 by the end of March, with intra-month highs nearing US$36,300. The move marked the sector’s first meaningful rebound in nearly two years.

As the DRC exhibited control over cobalt supply, the market began to look to the world’s second largest cobalt-producing nation: Indonesia. Indonesia’s cobalt output is largely a by-product of its laterite nickel industry, produced through high-pressure acid leaching (HPAL) plants that process nickel-rich ores.

These facilities generate mixed hydroxide precipitate (MHP), an intermediate containing both nickel and cobalt that can be further refined into battery-grade materials. The model has enabled Indonesia to rapidly scale its cobalt supply, leveraging its dominant nickel position and integrated processing infrastructure.

Indonesia produced about 31,000 metric tons of cobalt in 2024 — roughly 10 percent of global supply — cementing its position as the world’s second largest producer behind the DRC.

Output growth is being driven by HPAL projects targeting up to 500,000 tons per annum (tpa) of mixed hydroxide precipitate, potentially yielding 50,000 tpa of cobalt, though scaling up may prove challenging.

Indonesian MHP, a lower-cost intermediate that is rich in nickel and cobalt, is increasingly viewed by Chinese refiners as a substitute for DRC-sourced cobalt hydroxide.

Q2 and Q3: A fragile equilibrium forms

The DRC’s export ban continued to underpin prices through the second quarter.

Standard-grade cobalt metal was trading near US$15 to US$16 per pound at the time, while cobalt sulfate posted even sharper gains. Despite the rally, sentiment remained cautious. Chinese refiners drew on existing inventories, and trade data showed cobalt units still flowing into China, particularly from Indonesia.

By June, prices had begun to ease as uncertainty mounted over how long the DRC would maintain controls.

Although China imported significant volumes earlier in the year, analysts warned Indonesian supply would be insufficient to fully offset reduced DRC cobalt shipments. Later that month, the DRC extended its export restrictions through September, reinforcing expectations that the market would move toward balance.

By mid-year, Chinese import data confirmed the impact — cobalt hydroxide inflows had fallen sharply, with analysts projecting constrained refinery feed into late 2025 or early 2026.

Prices stabilized in a broad US$33,000 to US$37,000 range through Q3, supported by tightening supply and diminishing inventories. Market participants increasingly viewed the DRC’s actions as a structural shift rather than a temporary correction, signaling the end of the cobalt surplus that had defined the previous two years.

By late 2025, the cobalt market had transformed from one of chronic oversupply to one approaching equilibrium — a reset driven not by demand growth, but by decisive supply-side intervention.

Q4: Cobalt quotas replace DRC ban, prices climb

After months of supply disruption, the DRC lifted its full cobalt export ban in mid-October, replacing it with a rigid quota system that will shape the market through 2026.

Under the new framework, annual DRC exports are capped at about 96,600 metric tons, roughly half of 2024 levels, with just 18,125 metric tons scheduled for shipment in Q4 2025.

This structural tightening helped sustain elevated prices that surged above US$47,000 by late October, levels not seen since early 2023, amid persistent feedstock shortages and constrained exports.

DRC quotas have provided a degree of market clarity, with major producers like CMOC Group (OTCPL:CMCLF) receiving significant allocations that underpin production plans. Despite robust output guidance, inventories outside the DRC remain tight, and market participants see continued upward price pressure as the quota system curtails supply.

“The DRC’s quota system is set to squeeze supply in the next two years — unless the country revises quotas higher,” wrote Fastmarkets’ Oliver Masson in a December market update.

“Prices are already considerably higher than they were at the beginning of the year, and they are likely to remain elevated for as long as current quota levels remain in force,’ he said. ‘Cobalt is mostly used in batteries, and the longer prices remain elevated, the more likely it is that EV manufacturers will seek to move to low-cobalt or cobalt-free chemistries where feasible. This could slow demand in the medium term.”

Cobalt price forecast for 2026

Looking ahead to 2026, analysts see the cobalt market shifting into a deficit as export caps bite and global feedstock availability shrinks. Fastmarkets projects a structural shortfall of about 10,700 metric tons against demand near 292,300 metric tons, driven by DRC quota limits and ongoing drawdowns of stocks.

Industry forecasters also anticipate that reduced shipments, combined with a stubbornly tight pipeline, will support stronger average prices next year. Some forecasts suggest cobalt could average near US$55,000 in 2026 as export quotas supplant the 2025 ban. Indonesian supply is emerging as a secondary source, with production climbing, but most analysts agree it will be insufficient to offset DRC constraints in the near term.

After a year of dramatic swings driven by supply policy in the DRC, 2026 is shaping up as the first sustained deficit environment in the cobalt market, with prices expected to remain elevated amid structural tightening.

“Prices have substantially recovered over 2025 and are expected to remain elevated in 2026 as the DRC limits exports,” said Aubry. “There is a significant potential upside risk as dwindling ex-DRC stocks present the risk of demand destruction towards the end of the year.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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