According to the Economic Committee of the European Steel Association (EUROFER) Steel Market Outlook 2026-2027/Q2 2026 report, EU steel exports to third countries continued to weaken in early 2026 amid ongoing global trade tensions and lower international demand.
EUROFER said total EU steel exports to third countries third countries fell sharply by 33 percent year on year. for the first two months of 2026. Over the same period, exports of finished steel products fell by 30 percent, reflecting lower shipments of both flat and long products. Exports of flat products fell by 29 percent, and exports of long products fell by 33 percent.
Exports to almost all major destination markets fell sharply between January and February, according to EUROFER. EU steel exports to the US fell 46 percent year on year, while shipments to Turkey fell 23 percent. Exports to China were down 13 percent and shipments to Norway were down 20 percent. Switzerland was the only major export destination to register an increase, with EU steel exports to the country increasing by two percent.
In the first two months of 2026, the main EU steel export destinations were the UK, Turkey, Switzerland, the US and India. These five destinations together accounted for 61 percent of total EU finished steel exports during the period.
EUROFER said the export weakness reflects a challenging global trade environment marked by trade uncertainty, geopolitical tensions and weak industrial activity, which continues to weigh on external demand for EU steel products.
