Turkish deep-sea scrap buying picks up for December shipment

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.

ArcelorMittal recorded a net loss of 391 million USD in July-September 2026, reversing a net profit of 377 million USD a year earlier. The result included impairment and exceptional charges from idling ArcelorMittal Kryvyi Rih in Ukraine. Adjusted net income rose to 900 million USD from 700 million USD in Q2 2026, and sales grew to 16,466 million USD from 15,657 million USD. Crude steel output edged up to 13.7 million tonnes from 13.6 million tonnes, with EBITDA per tonne at 155 USD/tonne, up 44 USD y-o-y. CEO Aditya Mittal cited higher European energy costs plus weather-related disruption and weaker mining prices as headwinds, adding that Liberia should reach nameplate capacity in Q4 and that European energy costs are feeding into steel prices. Indian JV AMNS India posted EBITDA of 266 million USD versus 217 million USD.

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%.