EUROFER – Economic and Steel Market Outlook, Mar 2026

This report provides an economic and steel market outlook for the European Union for the years 2026 and 2027.

The EU steel demand is stabilizing after three years of contraction, with a modest and uncertain recovery. Steel consumption levels in 2025-2027 are expected to remain below pre-pandemic levels. Import penetration in the EU steel market reached record highs, with 29% in Q3 2025. Apparent steel consumption in 2025 is forecasted to rebound by +2.4%, better than previously expected. EU crude steel production fell to a record low in 2025, down 3% from 2024. The European steel industry is downsizing with low capacity utilization due to weak demand and import pressures. Domestic deliveries and steel consumption showed some improvement in Q3 2025, while imports increased sharply by 10%, contributing to the high import share in consumption.