According to the European Steel Association's (EUROFER) Economic and Steel Market Outlook 2026-2027/Q3 2026 report, EU steel imports declined by five percent year on year in the first half of 2026, following an exceptional surge in the final quarter of 2025.
Flat steel imports grow despite overall decline
EU finished steel imports decreased by three percent in January-June, as a two percent increase in flat product imports was offset by an 18 percent decline in long products.
In the second quarter alone, total steel imports fell by two percent, while finished steel imports increased by eight percent, reflecting a 15 percent rise in flat products and a 19 percent decline in long products. Imports' share of apparent steel consumption stood at 23 percent in the first quarter, down from a record 37 percent in the fourth quarter of 2025.
Turkey remains largest supplier as China and Indonesia gain
Turkey remained the EU's largest finished steel supplier, accounting for 15.7 percent of imports, followed by China with 12.3 percent, South Korea with 12 percent, Indonesia with 8.8 percent and India with 7.7 percent. Together, these countries represented 56 percent of finished steel imports. Shipments from Indonesia increased by 70 percent year on year, while imports from China rose by 40 percent and those from India edged up by one percent. Conversely, imports from Vietnam, Turkey, Ukraine and South Korea decreased by 25 percent, 16 percent, 15 percent and eight percent, respectively.
Hot-rolled imports rise while most products weaken
First-half imports of hot-rolled wide strip increased by 14 percent, whereas cold-rolled sheets fell by 17 percent, quarto plate by six percent, and coated sheets and hot-dipped galvanized products by three percent each. Among long products, imports of heavy sections declined by 47 percent, rebar by 23 percent, wire rod by 21 percent and merchant bars by three percent.
EU remains significant net steel importer
The EU's steel trade deficit, including semi-finished products, averaged 1.769 million mt per month in the first half of 2026, compared with 1.985 million mt per month across 2025. The finished steel deficit averaged 1.035 million mt per month, comprising 1.014 million mt of flat products and 21,000 mt of long products, leaving the EU a significant net importer despite the narrower overall deficit.
