Tag: escalating Middle East tensions pushed up oil and freight costs

Strong raw material costs and speculative buying lift prices Middle East tensions disrupt freight and export sentiment Chinese billet prices increased by RMB 30/t ($4/t) d-o-d to RMB 2,960/t ($428/t) on 9 March, supported by firm raw material costs including iron ore and coking coal, along with improved domestic sentiment and speculative buying. Baosteel also…