[Geopolitical disruptions push up freight costs and alter steel trade flows]

Published: Sep 30, 2026 15:42 (GMT+8)

Save

Geopolitical disruption is reshaping steel trade flows and freight costs, The Signal Group's Maria Bertzeletou told SteelOrbis's Belgrade conference. Capesize earnings averaged 50,300 USD/day on September 1-23, up 96% y-o-y; Panamax and Handysize hit 21,300 and 16,900 USD/day. Black Sea war-risk premiums may reach 3-5% of vessel value, lifting billet freight quotes to Turkey. China took 41.6% of recorded seaborne steel volumes, then Japan (10.8%) and South Korea (9.2%), with destinations far more fragmented. January-August global loadings fell 3.3% y-o-y, though August rose to 23.2 million tonnes. Black Sea steel-related loadings slumped about 79% in July-August, with no voyages on September 1-22. Hormuz steel intake dropped 65% to 3.8 million tonnes; VLSFO rose 62% to 881 USD/tonne.

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 for 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

7 mins ago

Data: SHFE, DCE market movement (Sep 30)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 30 Sep , 2026

7 mins ago

12 mins ago

[SMM Steel]

[Sheets & Plates] Today, export prices for HRC and some other sheets & plates rose $1/mt WoW, with HRC transaction prices concentrated in the $493-497/mt range. Overall market trading sentiment was moderate, and China entered a holiday state.

12 mins ago

14 mins ago

[SMM Steel]

[SMM Steel] Market feedback indicates that for Q235B with November shipment, the FOB selling price for 3.5*1250*C HRC is $495/mt, with the port of shipment being Caofeidian Port.

14 mins ago