[ Global DRI Production Declines 8.8% in August 2026 ]

India recorded total 1.12 million units vehicle retail sales during Navratri 2026, down 7% year-on-year. Passenger Vehicle (PV) sales stood at 1,82,728 units, down 22%, while Commercial Vehicle (CV) sales reached 35,618 units, up 1%. Two-Wheeler sales declined 3%, according to the Federation of Automobile Dealers Associations of India (FADA). The auto market remains cautiously optimistic about demand during the upcoming Dhanteras–Diwali festive period.

[Turkey] Market sentiment in the Turkish domestic rebar market remained subdued this week. A major integrated steelmaker in the Karabuk region opened sales orders, but achieved minimal actual trading volume, underscoring persistent weakness in end-use demand. In benchmark evaluations, the Turkish domestic rebar ex-works price held unchanged at 605 USD/tonne EXW (excluding VAT). Trading stagnation continues to reflect sluggish local construction activity over the past month and ongoing trader reluctance to build inventory. Regionally, other major producing hubs maintained a wait-and-see stance: Marmara offers held at 615–620 USD/tonne EXW, Izmir mills stayed at 605 USD/tonne EXW, and Iskenderun benchmarks stabilized at 596–602 USD/tonne EXW. On the export front, under pressure from cautious overseas counter-bids, Turkish rebar export quotes (FOB) edged lower to 600–605 USD/tonne FOB, with workable overseas buying targets firmly anchored near the 600 USD/tonne FOB baseline.

[Europe] European domestic hot-rolled coil (HRC) steel prices traded within a narrow range. Primary Nordic steelmakers officially launched first-quarter (Feb–Mar) delivery offers at 800–830 EUR/tonne DDP, citing elevated inland transport costs and navigational disruptions along major European waterways. In price evaluations, the Northwest European HRC ex-works price held flat at 740.00 EUR/tonne EXW (830 USD/tonne), while the Italian domestic HRC ex-works price slipped 1.00 EUR/tonne to 743.00 EUR/tonne EXW (833 USD/tonne). On market activity, beyond weak end-use consumption, liquidity constraints have emerged as a primary bottleneck for buyer replenishment: under updated EU Carbon Border Adjustment Mechanism (CBAM) rules, importers must pre-purchase and freeze CBAM certificates covering at least 50% of their annual carbon obligations next year. This mandate is tying up substantial working capital for buyers and traders, restricting purchasing flexibility. Meanwhile, Southern European market participants are closely awaiting regulatory and structural updates on the restructuring of Acciaierie d'Italia (formerly Ilva).