The EU reduced steel imports by 5% y/y in 1H2026 — EUROFER

In the first half of 2026, the European Union saw a 5% year-on-year decline in steel imports. This is according to the latest report from the European Steel Association (EUROFER), Economic and Steel Market Outlook 2026–2027 (third quarter).

As noted, in the first quarter of 2026, the total volume of steel imports into the bloc fell by 10% year-on-year amid moderate growth in apparent consumption (+1.5% year-on-year). As a result, the share of imported steel products in total consumption in January–March fell to 23% from an unprecedented 37% in the fourth quarter of 2025, which was a historic high.

In the second quarter of this year, import volumes continued to fall, albeit at a moderate rate (-2% year-on-year).

Imports of finished steel products in the first half of 2026 fell by 3% year-on-year. Imports of flat steel products rose by 2% year-on-year over the period, whilst imports of long steel products fell by 18% year-on-year. Long steel products accounted for 19% of total imports of finished steel products into the EU.

Between January and June 2026, the main sources of imports of finished steel products into the European Union were Turkey, South Korea, China, India, Ukraine, Indonesia and Vietnam. The five largest
exporting countries accounted for 56% of the total volume of these supplies.

Turkey accounted for the largest share (15.7%) over the period, followed by China (12.3%), South Korea (12%), Indonesia (8.8%), India (7.7%) and Ukraine (6.6%).

Import trends in the first half of the year varied significantly depending on the exporting country. Between January and June, import volumes from Indonesia (+70% year-on-year) and China (+40% year-on-year) rose markedly, whilst those from India rose slightly (+1% year-on-year), whilst imports from Vietnam (-25% y/y), Turkey (-16% y/y), Ukraine (-15% y/y) and South Korea (-8% y/y) fell.

It should be noted that, according to EUROFER, in the first half of this year the European Union reduced its exports of steel to third countries by 20% year-on-year.