According to the Economic and Steel Market Outlook 2026-2027/Q2 2026 Report from the Economic Committee of the European Steel Association (EUROFER), EU steel exports to third countries continued to weaken in early 2026 amid persistent global trade tensions and subdued international demand.
EUROFER stated that total EU steel exports to third countries declined sharply by 33 percent year on year in the first two months of 2026. In the same period, exports of finished steel products decreased by 30 percent, reflecting lower shipments of both flat and long steel products. Exports of flat products fell by 29 percent, while long product exports were down by 33 percent.
According to EUROFER, exports to almost all major destination markets contracted sharply in the January-February period. EU steel exports to the United States fell by 46 percent year on year, while shipments to Turkey decreased by 23 percent. Exports to China declined by 13 percent and shipments to Norway moved down by 20 percent. Switzerland was the only major export destination to register growth, with EU steel exports to the country increasing by two percent.
In the first two months of 2026, the main destinations for EU steel exports were the United Kingdom, Turkey, Switzerland, the United States and India. These five destinations together accounted for 61 percent of total EU finished steel product exports in the given period.
EUROFER indicated that the weakness in exports reflected the challenging global trade environment, marked by trade uncertainty, geopolitical tensions and weaker industrial activity, which continued to weigh on external demand for EU steel products.