WSA: Global steel demand to decline in 2025 but rebound in 2026

Global steel demand in 2025 will be flat compared with 2024, sitting at about 1.75 billion tonnes, the World Steel Association (WSA) warns in its latest short range outlook released on October 13. But the association also forecasts a mild rebound of 1.3% for 2026, pushing global steel demand to 1.77 billion tonnes.

"Despite a considerable escalation of the global trade war and inherent uncertainties, we are cautiously optimistic that global steel demand will bottom out in 2025 and demonstrate moderate growth in 2026," Alfonso Hidalgo de Calcerrada, chair of the WSA's Economics Committee, commented in a statement. The steel sector worldwide will