According to the Economic and Steel Market Outlook 2025-2026/Q3 2025 Report from the Economic Committee of the European Steel Association (EUROFER), total exports of steel products of EU countries to foreign markets decreased by 12.0 percent year on year in the second quarter of 2025, after an increase of one percent in the first quarter. Finished and flat product exports fell by ten percent and five percent respectively, while long product exports recorded a sharp 20 percent fall, all year on year.
According to information released by EUROFER, in the second quarter the main destinations for EU steel exports were the UK, US, Turkey, Switzerland and Egypt. These five destinations together accounted for 60 percent of total EU finished product exports. Countries which recorded year-on-year increases for finished steel exports were the UK with 12 percent, Serbia with four percent and Brazil with one percent. Exports to the Egypt declined by 41 percent, while exports to US, China, Norway, Turkey and Switzerland recorded 18, 17, 15, 14 and four percent contractions respectively.
In the given period, the total trade deficit of the EU, including semis, amounted to 1.7 million mt per month on average, compared to monthly average of 1.4 million mt in 2024. The deficit in the finished product trade made up 976,000 mt of this amount.
The five largest trade deficits for finished products with individual trade partners over the second quarter of 2025 were with Turkey (294,000 mt), South Korea (259,000 mt), China (163,000 mt), India (158,000) and Ukraine (152,000 mt).