[NMDC’s October Iron Ore Output Rises 18%, While Sales Decline]

Coal India Limited (CIL) recorded its highest-ever monthly coal supply of 70.3 million tonne in October 2026, marking a 19% YoY increase from 59.2 million tonne in October 2025. Coal production also rose 19% YoY to 67.2 million tonne, compared with 56.38 million tonne in the previous year. The increase in supply comes as coal stocks at thermal power plants need to be strengthened to meet rising electricity demand. Despite challenges from unseasonal rains, Puja holidays and a cyclone, CIL managed to achieve this record performance. For the steel sector, India's coking coal imports declined 4.18% YoY to 27.30 million tonne in August, keeping the focus on imported coking coal availability and raw material costs for domestic steelmakers.

[Europe] European hot-rolled coil (HRC) suppliers continued to probe the market with higher target prices this week; although overall market activity remained generally limited, price levels continued to edge slightly upward. Specifically, despite ongoing weakness in end-use demand, prices in Italy remained resilient under the support of supply-side constraints, with mainstream workable transaction levels holding firm between 750–770 EUR/tonne EXW (840–862 USD/tonne). Additionally, a UK-based seller offered imported cargoes into Spain at 725 EUR/tonne CFR (812 USD/tonne), inclusive of Carbon Border Adjustment Mechanism (CBAM) costs. Notably, crude steel output in Italy is projected to contract further over the coming months following Acciaierie d’Italia's (ADI) blast furnace shutdown; however, dragged down by a significant decline in downstream business over the past two months, end-user buyers are only entering the market when holding firm orders, preventing any explosive restocking wave.

[Turkey] Domestic rebar prices in Turkey rebounded after a recent slide, primarily driven by a post-holiday restocking wave among secondary market traders coupled with a recovery in raw material scrap costs, which prompted steelmakers to lift ex-works asking prices across the board. Propelled by inventory depletion over the holiday period and a strengthening seaborne scrap market late last week, buyer wait-and-see sentiment improved noticeably, unleashing a concentrated release of replenishment demand. In benchmark daily evaluations, the Turkish domestic rebar ex-works price surged by 6 USD/tonne to 606 USD/tonne EXW (excluding VAT). On a regional breakdown, sales volumes across both northern and southern steel mills expanded significantly during the session, though overall trading activity remained below historical averages for the season. In the Marmara region, rebar ex-works asking prices were adjusted upward to 610–625 USD/tonne EXW; Izmir quotes were similarly raised to 602–605 USD/tonne EXW; while Iskenderun mills settled within 595–605 USD/tonne EXW alongside robust trading volumes. On the raw material front, deep-sea US HMS 1/2 80:20 scrap traded late last week at 402 USD/tonne CFR, substantially reinforcing cost support for finished long products. On foreign trade, export demand has yet to keep pace with the domestic recovery, leaving rebar export FOB quotes holding steady at 605 USD/tonne FOB. Given persistent macroeconomic headwinds and the fast-approaching winter off-season, market participants remain divided and cautious regarding the longevity of this price rebound.