---
title: "Tensions in West Asia to impact Indian, other steel markets: BigMint"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278250770.md"
description: "The escalating crisis in West Asia is expected to significantly impact the global steel industry, including India, due to rising fuel and freight costs. Analysts from BigMint Research report that crude oil prices have surged from $70 to $90 per barrel, with freight costs increasing by nearly 40%. This situation is likely to lead to sustained input cost inflation across coal, scrap, and ore, affecting steel prices and margins. If the market cannot absorb these costs, steel demand may decline."
datetime: "2026-03-08T06:14:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278250770.md)
  - [en](https://longbridge.com/en/news/278250770.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278250770.md)
---

# Tensions in West Asia to impact Indian, other steel markets: BigMint

The global steel industry, including India, is expected to face multiple market-related issues in the coming days as the escalating crisis in the West Asia impacts fuels cost that has lead to increased freight rates, according to BigMint Research.

Military tensions in the region are increasing as both Iran, and the US, along with Israel, continue to attack each other.

BigMint analysts said crude oil, LNG, and freight costs are rising simultaneously, transmitting cost pressure directly into steel and steel-related commodity markets.

From an average of $70 a barrel before the war, crude oil prices have risen to about $90/per barrel, an analyst said, adding that the cost is expected to continue to rise in the coming days.

 

War has also impacted freight cost, which jumped almost 40 per cent in recent times. In the absence of insurance cover, marine operators are also offering freight at non-negotiable prices as per the availability of the vessel.

On the impact of the US-Iran conflict on steel markets, including India, they said the industry would face sustained input cost inflation across coal, scrap and ore, with freight and energy reinforcing one another.

"The players are expected to pass on the increased cost to customers. However, if market is not ready to absorb the cost, steel demand can also be affected," an expert said.

Extended disruption could push prices of coking coal -- a key steel making raw material -- from major supplying markets such as Australia, Russia, and the US.

Increased input cost, coupled with higher freight cost, will also put pressure on the margins, the analysts added.

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