MYSTEEL: Mid-East conflict pushes SEA billet costs, Chinese materials to fill supply gap

Ongoing turmoil in the Middle East is creating a significant steel billet supply gap and driving up regional shipping and logistics risks, pushing import costs for Southeast Asia higher by more than 20%, according to Mysteel's latest analysis report.

Iran has long been a key supplier of semi-finished steel to Southeast Asia, which relies heavily on imported billets to support electric-arc-furnace (EAF) production. Public information showed that Iran exported approximately 5.4 million tonnes of billets and slabs in 2025, making up roughly 50% of the country's total steel