According to the European Steel Association's (EUROFER) Economic and Steel Market Outlook 2026-2027/Q3 2026 report, EU steel exports to third countries declined by 20 percent year on year in the first half of 2026, as global trade tensions continued to weigh on shipments.
Flat and long steel exports decline
EU finished steel exports decreased by 18 percent year on year in January-June, reflecting declines of 19 percent in flat products and 15 percent in long products. In the second quarter alone, total steel exports fell by 14 percent, while finished steel shipments dropped by 13 percent, with flat and long product exports down by 16 percent and six percent, respectively.
Among flat products, first-half exports of hot-rolled wide strip decreased by 24 percent, followed by cold-rolled sheets by 13 percent, hot-dipped galvanized products by 12 percent, coated sheets by 11 percent and quarto plate by six percent. Long product exports also weakened, with wire rod shipments falling by 20 percent, rebar by 16 percent, merchant bars by 10 percent and heavy sections by three percent.
Shipments to US and Turkey fall sharply
Exports to the United States declined by 29 percent year on year, while shipments to India, Turkey and China fell by 24 percent, 21 percent and 18 percent, respectively. Exports to the United Kingdom decreased by seven percent and those to Switzerland by two percent, whereas shipments to Brazil increased by three percent.
The United Kingdom, Turkey, the United States, Switzerland and India remained the EU's five largest finished steel export destinations, together accounting for 64 percent of shipments in the first half of 2026.
