The European Steel Association (EUROFER) reports that around 10 million tons of European crude steel capacity has been restarted in 2026, backed by at least EUR 3.4 billion in confirmed investment decisions and another EUR 2.4 billion expected by year-end, safeguarding up to 80,000 jobs across the steel value chain.
The uptick comes 100 days after the EU’s July 1 trade measure came into force, capping duty-free steel imports at 18.3 million tons and levying a 50% tariff on excess shipments to curb global overcapacity.
EUROFER cautioned the sector is only showing early signs of stabilization rather than a sustained recovery, citing weak exports and just 0.1% projected demand growth for 2026.
Newly elected EUROFER President Geert van Poelvoorde discussed industry developments with EU Trade Commissioner Maroš Šefčovič, calling for anti-circumvention enforcement, competitive energy prices, fair carbon costs, and an effective CBAM to support EU steel production.