The latest Economic and Steel Market Outlook 2025–2026 from EUROFER reports that EU-27 apparent steel consumption fell 1.8 percent year on year in the second quarter of 2025, reaching 34.3 million mt. This follows a 2.2 percent increase in Q1.
End-use sectors under pressure
EUROFER highlighted a broad slowdown across steel-using sectors:
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The Steel Weighted Industrial Production Index (SWIP) fell 2.9 percent, its sixth consecutive decline
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Rising global uncertainty — including recent U.S. tariff measures — is projected to push the EU into a mild recession in 2025
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Industrial output is now expected to shrink 1.5 percent, versus the earlier forecast of –0.7 percent
A moderate recovery of 1.8 percent is projected for 2026. Apparent steel consumption is expected to grow around three percent in 2026, slightly below previous expectations.
EUROFER cautions that the outlook remains fragile and heavily dependent on improved industrial conditions and a reduction in geopolitical tensions.
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