Kyoei Steel is to suspend the creation of new sales contracts for steel materials from the 9th of March, due to the Middle East situation making it difficult to determine the correct price, Nikkei reports

Kyoei Steel's decision to suspend new sales contracts for steel materials highlights the increasing uncertainty in the steel market due to geopolitical tensions in the Middle East. This move may signal supply constraints or elevated pricing volatility that could influence broader commodity markets and steel-related equities, particularly if other producers follow suit.