[SMM Iron & Steel] Iranian Billet Shipment Disruptions Drive Regional Middle East Prices Higher

Published: Apr 30, 2026 13:52

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Geopolitical conflicts surrounding Iran have significantly disrupted steel shipments, deeply impacting the Middle East steel supply chain. Consequently, average billet prices in the Persian Gulf countries—the primary importers of Iranian billets, including Oman, the UAE, and Qatar—surged by $79 in March to hit $523 per metric ton (CFR). This record increase, which reached an $80/t spike in certain Gulf areas, is attributed to severe logistical constraints and escalating freight rates. Although there is no overall global billet shortage, the immediate supply impact and the time needed to redirect global supply flows have temporarily constrained regional availability and elevated market prices.

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