[SSAB Reports Higher Q2 Profit on Stronger Pricing and Shipments]

Global commodity giant Glencore is officially exiting its financial exposure to an iron ore trader amid ongoing investigations by the US Justice Department and Commodity Futures Trading Commission over allegedly falsified trade documents. The iron ore trader has also been removed from the approved-customer lists of Rio Tinto and Vale. Glencore clarified that its remaining financial exposure to the trading firm is "well below" $500 million.

Turkish steelmaker Ekinciler Demir ve Çelik Sanayi reported a net profit of 323.37 million lira ($6.77 million) for the first half of 2026, marking a 1.9% year-on-year decline despite a 28.2% surge in total sales revenues to 11.80 billion lira ($247.17 million). The 1.3 million-ton-capacity producer saw export revenues skyrocket by nearly 560% to 1.53 billion lira, heavily driven by strong international shipments of steel billet and reinforcing bar.

The Zenica Municipal Court in Bosnia and Herzegovina has officially initiated bankruptcy proceedings against the Zenica steel plant. The court has appointed a bankruptcy administrator and given creditors a 30-day window to submit claims against the company's assets. A formal hearing to examine creditor claims and assess the distressed steelmaker's financial situation is scheduled for December 8, 2026.