[SMM Iron & Steel] Gulf War Tensions Drive Up Global Freight Rates

Published: Mar 4, 2026 13:58

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Market reports on March 3, 2026, indicate that the ongoing conflict in the Gulf region has caused a significant spike in ocean freight rates. This is particularly affecting the landed cost of iron ore and HRC (Hot Rolled Coil) for sensitive destinations. While mine-side prices remain stable, the rising cost of logistics is beginning to squeeze margins for international steel traders.

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