EU steel demand growth to slow sharply in CY'26 despite easing import pressure

Apparent steel demand growth forecast at 0.4% in CY'26 after import-led rebound. Record import penetration eases, but production remains near historic lows. Construction recovery offsets only part of manufacturing weakness

EU steel demand growth is expected to slow sharply in CY'26 as the import-driven rebound witnessed last year gives way to weaker underlying market fundamentals, according to EUROFER's latest Economic and Steel Market Outlook. The industry association forecasts apparent steel consumption will increase by just 0.4% this year, compared