According to the Economic and Steel Market Outlook 2026-2027/Q1 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 percent year on year in the full year of 2025. Finished and flat product exports fell by 11 percent and eight percent, respectively, while long product exports recorded a sharp 17 percent fall, all year on year.
According to information released by EUROFER, in 2025 the main destinations for EU steel exports were the UK, US, Turkey, Switzerland and India. These five destinations together accounted for 59 percent of total EU finished product exports. Countries which recorded year-on-year increases for EU finished steel exports were Algeria with 39 percent, the United Kingdom with five percent, and India and Switzerland each with a one percent increase.
Exports declined across all major flat product categories, reflected in major decreases for cold rolled sheets with 20 percent and plate by 11 percent. In long products, shipments also decreased across all main categories, with rebars down by 35 percent and wire rod shipments down 25 percent, followed by heavy sections down by 15 percent and merchant bars decreasing by nine percent.
The EU’s steel trade deficit widened markedly in 2025, reaching about 2 million mt per month including semis, up from 1.4 million mt in 2024. For finished steel, the deficit rose to 1.2 million mt per month, driven by flat products (1.1 million mt) and long products (156,000 mt). In 2024, the finished steel deficit was 890,000 mt per month, with a flat product deficit offset slightly by a small surplus in longs.
The largest deficits in 2025 were with South Korea, Turkey, Indonesia, China, Taiwan, India, Ukraine and Vietnam, while the EU posted its biggest surpluses with the US, UK and Switzerland.