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The European Steel Association (EUROFER) expects EU steel demand to post modest growth in 2026, although steelmakers are likely to continue operating below optimal capacity. According to the association's latest market outlook, apparent steel consumption is forecast to increase slightly during 2026, while capacity utilization remains subdued at around 65%, reflecting persistent structural challenges in the European steel industry.
EUROFER noted that although steel consumption recovered in 2025, much of the increase was driven by temporary factors, including stronger imports and inventory rebuilding, rather than a sustained improvement in underlying industrial demand. Energy costs, global trade uncertainty, and weak manufacturing activity continue to weigh on production and investment decisions.
The association expects demand from construction, automotive, and mechanical engineering to improve gradually over the coming years, supporting a stronger recovery in 2027. However, producers remain cautious as market conditions continue to be influenced by geopolitical risks and import competition.For steel traders, investors, and industry professionals, the report signals that while the EU steel market is stabilizing, significant challenges remain before production levels and capacity utilization return to healthier levels.
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