Chinese major Baosteel will re-evaluate its investment in a steel plate making joint venture in Saudi Arabia because war in the Middle East has added uncertainties to the project, Baosteel Chairman Zou Jixin said.
Iron ore shipments on the Great Lakes in March were down 23.5% from a year earlier, according to the latest report by Lake Carriers’ Association.
The American Metals Supply Chain Institute (AMSCI) said increasing insurance premiums, potential vessel diversions, and contractual risk evaluations began in the global freight market as geopolitical conflict escalates in the Persian Gulf region.
Iron ore shipments on the Great Lakes reached 2 million short tons in January.
According to recently released final US Commerce Department data, US steel imports rebounded 11% month on month (m/m) in October 2025 after falling to a multi-year low one month earlier. The latest license figures suggest imports eased back by 3% in November and by another 2% in December, with trade again nearing historical lows.
Meanwhile, the nation’s largest rail union said they supported the tie-up between Union Pacific and Norfolk Southern once Union Pacific agreed to secure union jobs.
Representatives from bulk commodity shippers and consumer goods argued against the fees, saying it could cripple supply chains because of the very dominance that China has in the existing shipping fleet.
Recall that shipments also saw a sharp decline in January.
Nearly 99% of ILA members voted in favor of a new labor deal with the United States Maritime Alliance that covers workers at ports on the Atlantic and Gulf coasts.
With construction seasonally soft, the flatbed market remains softer than the other main trailer types.
Both sides had agreed to extend the current contract to Jan. 15 to continue talks