Tag: Middle East geopolitical tensions steel trade

Hormuz tensions stall billet shipments to key GCC markets East Asian billet indications hold above $450/t FOB China Rising Middle East tensions are disrupting key shipping routes around the Strait of Hormuz, lifting freight costs and supporting Asian billet export prices. Chinese mills raised 3sp billet offers by around $10-12/t w-o-w FOB amid supply concerns…