ArcelorMittal posts 391 million USD net loss in Q3 2026 on Ukraine idling

German Green Steel and Power Limited reported revenue of about 41.5 million USD for the quarter ended 30 September 2026, down 21% q-o-q, while profit after tax fell 22% q-o-q to about 1.9 million USD but rose from 1.6 million USD a year earlier. Pre-tax profit was about 2.15 million USD, down 1.46 million USD q-o-q, as tax expense dropped to about 0.24 million USD. Raw-material consumption was about 33.0 million USD, and the inventory change swung to a credit of about 7.1 million USD. First-half revenue was about 94.2 million USD and profit after tax about 4.3 million USD, both slightly above the prior-year period. The company completed a 33.0 million USD fresh issue and listed on the NSE and BSE on 5 October 2026. It makes TMT bars, mild-steel billets and sponge iron.

The European Commission is drafting its Circular Economy Act proposal, due before end-2026, to keep materials in circulation and widen access to high-quality recycled resources. Steel and aluminium are central: 75% of all such metal ever produced is still in use. Industry data show 84% of steel packaging was recycled in Europe in 2024 and 76.3% of aluminium beverage cans in 2023; scrap-based steelmaking emits 78% less GHG than virgin steel. Three priorities are urged: material-specific, transparent EPR fees based on actual net costs, avoiding cross-subsidies; eco-modulated fees tied to recyclability grades under the PPWR; and coordination with deposit return systems, which lifted Slovakia's rate from 58% to 91% and Malta's from 50% to 80%.

The German Steel Federation (WV Stahl) and five other industry bodies — VEA, VIK, WV Metalle, ZVEI and DIHK — have urged the Bundestag to reject a proposed 1 billion USD cut to the annual electricity transmission grid subsidy of roughly 7 billion USD (6.5 billion EUR). The subsidy, introduced in early 2026, brought network charges back to 2023 levels after sharp increases in previous years. The associations warned that German power prices remain far above those in the US, China and several European peers, with Middle East instability adding further pressure on energy markets. Cutting the subsidy would partly reverse that relief, raising costs for industrial, commercial and household consumers, undermining investment planning and weakening incentives for electrification. Grid costs are expected to stay high or rise further, so continued support is needed, they said.