European steel production declines 2.9% in 2025, recovery not expected until 2027
2026-06-26 11:06:31 [Print]
In 2025, the European steel industry hit a historic low, with production falling to 125.8 million tonnes-a decline of 2.9%. Meanwhile, steel consumption rebounded by 4.4% during the same period. However, this growth did not benefit the bloc's domestic steelmakers; instead, it was absorbed by a 14% surge in imports, which now account for 30% of the European steel market.
The European Steel Association (Eurofer) has warned that the sector has lost 30,000 jobs and 30 million tonnes of capacity over the past five years, citing global overcapacity-particularly in Asia-as a key driver. The industry association also criticized the fact that the influx of foreign steel, often circumvented through triangulation, continues to displace EU production.
Looking ahead, Eurofer's outlook remains subdued amid geopolitical uncertainty, with stagnant growth of just 0.4% forecast for 2026. However, the association anticipates a more significant recovery of 2.2% by 2027.
The European Steel Association (Eurofer) has warned that the sector has lost 30,000 jobs and 30 million tonnes of capacity over the past five years, citing global overcapacity-particularly in Asia-as a key driver. The industry association also criticized the fact that the influx of foreign steel, often circumvented through triangulation, continues to displace EU production.
Looking ahead, Eurofer's outlook remains subdued amid geopolitical uncertainty, with stagnant growth of just 0.4% forecast for 2026. However, the association anticipates a more significant recovery of 2.2% by 2027.
