Higher prices for building materials are boosting construction costs and busting renovation budgets, weighing on a housing market already beset by rising mortgage rates.

The WSJ’s Ryan Dezember writes that the data-center boom and disruptions at the world’s second-largest copper mine have pushed the metal’s prices to records. Lumber prices are up because of import taxes and sawmill closures. The Iran war has shocked fuel and chemical markets and boosted prices for resins and plastics as well as the costs of delivering materials such as wallboard and cement to work sites.

A concrete and drywall producer said higher fuel costs lifted its wallboard freight expense more than $2 per thousand square feet, and that it raised cement prices in most of its markets. One homebuilder said higher wood and metal prices will factor into the cost of homes it sells this year, adding it was pushing back on fuel surcharges from suppliers.

• U.S. home-price growth slowed slightly in March as higher mortgage rates intensified the affordability squeeze among home buyers. (WSJ)

The U.S. government has accused First Brands Group of tariff fraud, alleging the bankrupt auto-parts supplier undervalued imported goods from China to avoid paying higher duties. The Journal’s Alicia McElhaney writes that the Justice Department is seeking roughly $286 million in unpaid tariffs and penalties, according to a filing in Delaware bankruptcy court.

The U.S. joined a long list of creditors seeking repayment from the company, which filed for chapter 11 in September last year under the weight of a heavy debt pile. The company’s restructuring of its more than $10 billion of debt has since devolved into myriad asset sales and litigation, following a federal criminal indictment early this year that accused its top executives of orchestrating accounting fraud.

First Brands’ founder Patrick James has denied wrongdoing. First Brands didn’t immediately respond to a request for comment Tuesday.

• President Trump’s global 10% tariff could potentially be re-imposed after it expires in July, U.S. Trade Representative Jamieson Greer said. (WSJ)

India has become ground zero for superfast deliveries—often in under 10 minutes—of everything from eggs to electronics, fueling a boom that has attracted billions of dollars from global companies and deep-pocketed investors.

Called quick-commerce, the sector is expanding rapidly as Amazon and Flipkart, a Walmart-backed e-commerce firm, compete with Indian startups, the WSJ’s Shan Li writes. In India, the quick-commerce market is forecast to reach $50 billion by 2030, up from $8 billion last year, according to a report from Deloitte and Google. That would make it about 20% of the country’s total e-commerce market, compared with about 8% today.

• Consumer confidence declined in May, with The Conference Board’s index falling to 93.1 due to intensifying Iran-war inflation. (WSJ)
• Canadian manufacturing shipments rose an estimated 4.6% in April from March, marking a third straight month of increasing sales. (WSJ)
• China’s crude imports are tracking around 6.6 million barrels a day in May, the lowest level since 2016, freeing up supplies for other Asian countries. (WSJ)
• Airbus delayed delivery of A350-1000 jets to Qantas until April 2027 due to supply-chain issues. (WSJ)
• American Airlines will install Starlink internet service on over 500 single-aisle Airbus planes starting early next year. (WSJ)
• China's Transport Ministry and provincial authorities are cracking down more widely over the filing of ocean rate data by freight forwarders and ocean carriers. (Journal of Commerce)
• The Supreme Court rejected Florida’s attempt to sue California and Washington state over the issuance of commercial driver licenses to truckers who don’t speak English and aren’t authorized to be in the U.S. (Associated Press)
• Stord raised $250 million in a funding round, valuing the logistics startup at $3 billion as it expands its fulfillment operation. (Transport Topics)
• A co-founder of Everlane is launching a new apparel brand called Still Radical following the sale of Everlane to Shein. (RetailDive)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.