[Explosion at Russia's Largest Coking Coal Deposit Leaves Four Dead]

From January to August, industrial enterprises above designated size nationwide achieved total profits of 5,271.98 billion yuan, up 15.7% YoY (calculated on a comparable basis). From January to August, among industrial enterprises above designated size, state-controlled enterprises achieved total profits of 1,675.99 billion yuan, up 10.3% YoY; joint-stock enterprises achieved total profits of 4,071.46 billion yuan, up 20.4%; foreign-invested enterprises and enterprises invested by investors from Hong Kong, Macao, and Taiwan achieved total profits of 1,179.47 billion yuan, up 2.3%; private enterprises achieved total profits of 1,321.32 billion yuan, up 10.4%.

[Turkey] The Turkish flat steel market maintained an overall steady-to-firm tone, with hot-rolled coil (HRC) domestic and export offers holding flat at 620 USD/tonne EXW and 615 USD/tonne FOB, respectively. On the domestic front, two mainstream mills quoted at 620 USD/tonne EXW; two other producers offered at 625 USD/tonne EXW, with production schedules essentially locked in through December. Although some buyers retreated to the sidelines awaiting price corrections due to high-level caution, ample order backlogs have relieved mills of any pressure to discount for sales, keeping the market's firm pricing expectations robust. In the export sector, overseas buyers are closely monitoring the pace of quota consumption. Consequently, coupled with the fact that December-delivery orders to Southern Europe were largely locked in several weeks ago, fresh procurement appetite for shipments clearing customs on January 1st of next year has cooled. On the import side, supported by shipping disruptions and firm domestic mill prices, HRC import prices held steady at 555 USD/tonne CFR.

India remained a net importer of finished steel during April-August 2026, with imports rising 29.5% YoY to 3.49 million tonnes from 2.69 million tonnes. Meanwhile, finished steel exports rose 34% YoY to 2.99 million tonnes. China, South Korea, Japan, Indonesia and Vietnam were the top import sources. Major imported products included hot-rolled coil/strip, cold-rolled coil/sheets, galvanized sheets/coils, plates, bars and rods. In August, finished steel imports rose 8% YoY to 721,100 tonnes. Vietnam, UAE, Italy, Belgium and Nepal were the top export countries. The government is encouraging domestic steelmakers to increase high-end steel production and introduced a production-linked incentive scheme in 2021 with an outlay of INR 6,322 crore.