[ Çemtaş Reports $3.6 Million H1 Net Loss as Steel Production Declines ]

India's Jindal Stainless Limited (JSL) has officially begun scouting land in the state of Maharashtra to construct a new $4.2 billion greenfield steel mill. The proposed multi-phase facility targets an ultimate production capacity of 4 million metric tons of specialized stainless steel per year. Management expects to secure the necessary land within the next two quarters, aiming to operationalize the first phase within four years to supply emerging infrastructure and defense sectors.

The European Commission is proposing a timeline extension for the phase-in of its Emissions Trading System (ETS) free allowance reductions, pushing the full carbon cost integration out to 2038. This regulatory revision would significantly moderate the near-term compliance costs imposed by the Carbon Border Adjustment Mechanism (CBAM). Turkish steel and aluminum exporters would benefit from a more gradual phase-in, protecting their price competitiveness within the European market over the next decade.

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.