WSA cuts global steel demand guidance for 2026

The ongoing hostilities in the Middle East have led the World Steel Association (WSA) to substantially lower its forecast for growth in global steel demand for this year to just 0.3%, compared with its forecast issued last October for a 1.3% on-year rise.

"We expect the ongoing conflict in the Middle East to result in a sharp drop in that region's steel demand for 2026, which was otherwise positioned for strong growth." Alfonso Hidalgo de Calcerrada, chair of the WSA's Economics Committee, commented at the release of the association's short-range outlook (SRO)