In 2025, the European steel industry reached a historic low level in production with 125.8 million tons, falling by 2.9%, while steel consumption rebounded by 4.4%. This growth did not benefit the bloc’s steelmakers but was instead absorbed by a 14% increase in imports, which now account for 30% of the European steel market.
The European Steel Association (Eurofer) warns that the sector has lost 30,000 jobs and 30 million tons of capacity in five years due to global overcapacity, especially in Asia. The industry association criticizes the fact that the excess of foreign steel, often circumvented through triangulation, continues to displace EU production.
Looking ahead, Eurofer’s outlook remains subdued due to geopolitical uncertainty, with stagnant growth of 0.4% by 2026; however, it anticipates a more significant recovery of 2.2% by 2027.