China’s steel industry remained under earnings pressure in the first half of 2026, even as crude steel output fell 3% year on year to 500 million mt. Industry revenue slipped 0.6% while operating costs eased just 0.4%, sending total profits down 25% to RMB 31.77 billion. Production restraint provided only limited relief as weak demand and elevated costs continued to weigh on profitability.

ArcelorMittal reported second-quarter 2026 revenue of $16.76 billion, up 8.4% quarter on quarter. EBITDA rose 22.9% to $2.06 billion, while net income increased 18.8% to $683 million. The gains were supported by a 4.4% rise in average steel selling prices and a 4.1% increase in steel shipments. Crude steel output climbed 7.5% quarter on quarter to 14.3 million mt, but was slightly below the level a year earlier.

Insteel Industries reported net earnings of $9.0 million for the third quarter of fiscal 2026, down 41% year over year, while net sales rose 9.9% to $197.7 million. Gross margin narrowed to 10.2% from 17.1% as higher wire rod, freight and operating costs outpaced gains in selling prices and shipments. Operating cash flow for the first nine months of fiscal 2026 fell 51% from the prior-year period. The company finished the quarter debt-free and continued share repurchases, but profitability came under pressure.