EU Steel Exports Fall 20% in H1 2026 as Major Markets Weaken
European Union steel exports to third countries fell 20% year over year in the first half of 2026 to about 14 million tonnes, with finished flat and long steel shipments both declining and exports to several major destinations dropping sharply.
- Total steel exports: Fell 20% year over year in January–June 2026 to about 14 million tonnes.
- Finished steel exports: Declined 18%, with flat products down 19% and long products down 15%.
- Q2 2026: Total exports fell 14% year over year, while finished steel exports declined 13%.
- Largest destination declines: U.S. shipments fell 29%, India 24%, Turkey 21%, China 18% and the UK 7%.
- Export concentration: The UK, Turkey, U.S., Switzerland and India accounted for 64% of EU finished steel exports.
The breadth of the decline is more significant than the 20% headline figure alone. EU shipments fell across most major export markets and across both flat and long finished products, while total steel imports into the bloc were about 34 million tonnes during the same six-month period versus roughly 14 million tonnes of exports. The data therefore point to pressure on European mills from both weaker external sales and continued dependence on imported steel, rather than a problem confined to one product or destination.
European Union steel exports to third countries declined by 20% year over year in the first half of 2026, according to the European Steel Association's latest Economic and Steel Market Outlook 2026–2027.
EUROFER reported total exports of approximately 14 million tonnes during January–June.
The export decline came as the European steel industry continued to operate against a backdrop of historically weak crude steel production and subdued domestic demand.
Finished Steel Exports Fall 18%
Exports of finished steel products fell by 18% year over year in the first half of 2026.
Both major finished-steel categories recorded substantial declines. Exports of flat steel products fell 19%, while shipments of long steel products declined 15%.
| Export Category | H1 2026 Y/Y Change |
|---|---|
| Total steel exports | -20% |
| Finished steel products | -18% |
| Flat steel products | -19% |
| Long steel products | -15% |
Export Decline Continues in Second Quarter
The downward trend continued during the second quarter of 2026.
Total EU steel exports fell by 14% year over year during the quarter, while exports of finished steel products declined by 13%.
Within finished steel, flat-product exports fell by 16%, while long-product shipments declined by 6%.
| Category | Y/Y Change |
|---|---|
| Total steel exports | -14% |
| Finished steel | -13% |
| Flat steel products | -16% |
| Long steel products | -6% |
U.S. Shipments Fall 29% as Major Destinations Weaken
The United Kingdom, Turkey, the United States, Switzerland and India were the EU's main finished-steel export destinations during January–June.
Together, the five markets accounted for 64% of total EU finished steel exports.
Export performance weakened across most of the bloc's major external markets.
| Destination | H1 2026 Y/Y Change |
|---|---|
| United States | -29% |
| India | -24% |
| Turkey | -21% |
| China | -18% |
| United Kingdom | -7% |
| Brazil | +3% |
| Norway | +1% |
Brazil and Norway were notable exceptions to the broader contraction, with EU steel exports to those markets increasing by 3% and 1%, respectively.
EUROFER Warns of Pressure on European Steelmakers
EUROFER Director General Axel Eggert described the export decline as a serious warning for the European steel industry.
“The 20% fall in exports is an alarming signal of the pressure facing European steel.”
EUROFER said the export decline is occurring alongside crude steel production at historically low levels and persistently high energy costs, reinforcing the association's view that a sustained European industrial recovery has not yet been secured.
Eggert said the EU's new steel trade measure represents an important first step, but argued that further industrial revitalisation is needed across regions and throughout the European steel value chain to support production, investment and employment.
EU Remains a Significant Net Steel Importer
The export weakness also stands in contrast with the volume of steel entering the European Union.
EUROFER reported total EU steel imports of approximately 34 million tonnes in the first half of 2026, compared with about 14 million tonnes of exports.
Imports themselves fell by 5% year over year, but the substantially larger inbound volume meant the EU remained a significant net steel importer during the period.
At the same time, apparent steel consumption is forecast to increase by only 0.1% in 2026, while EU crude steel production had already fallen to a record low of 125.8 million tonnes in 2025.
Long Steel Exports Were Already Falling in 2025
The weakness in 2026 follows a deterioration in European long-steel export performance last year.
EU steelmakers reduced exports of long steel products to third countries by 13.5% year over year in 2025 to approximately 5.50 million tonnes, according to GMK Center.
That reversed the growth recorded in the preceding two years, when long-product exports increased by 3.6% in 2024 and 4.6% in 2023.
GMK Center attributed the 2025 decline primarily to reduced shipments of major basic long-steel product categories to key export markets.
Primary source: European Steel Association (EUROFER) , Economic and Steel Market Outlook 2026–2027, Third Quarter.
Additional context: GMK Center.
