[SMM Steel] Steel mills shift to FOB offers amid freight disruption

Published: Apr 17, 2026 17:03

Save

[SMM Steel] Steel exporters in Asia and Turkey are increasingly shifting from CFR to FOB offers as the Iran-related conflict drives up freight costs and disrupts shipping. The Strait of Hormuz remains effectively closed, while freight from India to Europe has risen to ~$80/t (vs. $50–60/t previously). Indian mills have suspended or converted shipments to FOB, with some March cargoes delayed. Meanwhile, limited imports have pushed up flat steel prices in the GCC, with supply disruptions affecting availability.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 mins ago

A steel mill in Hebei tendered for molybdenum iron at a tender price of 287,000/mt, purchasing 150 mt.

[Molybdenum Iron Tender Information] SMM April 17: A steel mill in Hebei issued a tender price for molybdenum iron at 287,000 yuan/mt (acceptance), with a quantity of 150 mt.

15 mins ago

16 mins ago

Tender Prices Released by Two Steel Mills in Jiangsu for Ferromolybdenum, Totaling 180 mt

[Ferromolybdenum Steel Mill Tender Information] SMM April 17: A steel mill in Jiangsu issued a ferromolybdenum tender price of 288,700 yuan/mt (by acceptance), with a quantity of 60 mt. Another steel mill in Jiangsu issued a latest ferromolybdenum tender price of 288,500 yuan/mt (cash, inclusive of tender service fee), with a quantity of 120 mt.

16 mins ago

34 mins ago

[SMM Steel] POSCO calls for global coordination to advance steel decarbonization

[SMM Steel] POSCO emphasized the need for stronger international cooperation to accelerate steel decarbonization at the World Steel Association meeting. The company highlighted rising energy costs and weak demand as key challenges, while stressing fair market valuation for low-emission steel. POSCO also engaged with global partners on carbon reduction technologies, investment, and supply chain stability, as it continues to push its decarbonization roadmap.

34 mins ago