[ Glencore Cuts Ties with an Iron Ore Trader Amid Fraud Probes ]

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.

Finnish stainless steel producer Outokumpu inaugurated a new €30 million biocoke agglomeration plant at its integrated Tornio production site. The facility processes biochar into biocoke to replace fossil fuels used in ferrochrome smelting. Operating at full capacity, the new plant is expected to reduce the company's direct CO₂ emissions by up to 82,000 metric tons per year.