Global steel, raw material prices rise m-o-m in Mar'26 as US-Iran conflict disrupts supply chains

Indian imported PHCC bucks trend, prices drop as supply constraints ease. Chinese iron ore up 7% on supply uncertainty, high port stocks cap gains. Firm input costs, domestic demand recovery lift Chinese HRC export offers

Global steel and raw material prices climbed higher m-o-m in March 2026 except for coking coal, as the US-Iran conflict, which started on 28 February, halted oil and natural gas dispatches from the Middle East and lifted freights across the world. Steel production costs increased due to raw material