Some Chinese steel exporters have stopped offering new cargoes to customers in the Middle East due to the ongoing conflict with Iran. The conflict is affecting shipping through the Straits of ‘Hormuz, a major route for China's steel exports to the Gulf. This has led to a decrease in steel exports for China, which accounted for 16% of its exports last year. The resilience of Chinese steel exports over the past three years is partly attributed to growing protectionism in traditional markets.