According to the Economic and Steel Market Outlook 2026-2027/Q1 2026 of the Economic Committee of the European Steel Association (EUROFER), in the third quarter of 2025, apparent steel consumption in the EU-27 was 32 million tons, an increase of 4.6 percent year on year, after a decline of 1.7 percent in the second quarter of 2025.
According to data EUROFER's industrial forecast for 2025 showed a modest improvement, especially in the second half of the year, despite earlier forecasts indicating another decline. However, this recovery largely reflects a comparison with the very weak volumes recorded in the second half of 2024. Consequently, apparent steel consumption in 2025 is expected to increase by 2.4 percent, compared with the previous forecast, which predicted a slight contraction of 0.2 percent. The upward revision was largely supported by stronger-than-expected growth in several domestic markets, which partially offset the negative impact of trade disruptions and uncertainty related to US tariffs.
Industrial activity shows early signs of recovery as SWIP rises
Meanwhile, industrial activity in steel-consuming sectors began to show early signs of recovery. The steel weighted industrial production (SWIP) index rose 1.8 percent in the third quarter of 2025, marking the first increase after six consecutive quarters of decline. However, the overall outlook remains cautious. Minor slippage in the SWIP index is forecast
