The EU reduced steel imports by 23% y/y in Q1 — EUROFER

At the same time, the sector’s exports of steel products to third countries fell by 33% y/y in January–February

In the first quarter of 2026, the European Union saw its total steel imports fall by 23 per cent year-on-year. This is according to data set out in the European Steel Association (EUROFER) report for the second quarter of 2026 (‘Economic and Steel Market Outlook 2026–2027’).

Imports of rolled steel fell by 17% year-on-year during the period, due to declines in both the flat steel segment (-17% y-o-y) and the long steel segment (-19% y-o-y).

In January–March 2026, the main sources of rolled steel imports into the EU were Turkey, South Korea, China, India, Ukraine, Indonesia and Vietnam. The five largest exporting countries accounted for 54% of the total volume of these imports.

Turkey held the largest share (17.2%), followed by South Korea (11.5%), China (9.9%), India (8.9%), Ukraine (7.3%) and Indonesia (6.4%).

Import trends varied significantly among exporting countries. In the first quarter, imports increased from Indonesia (+19% year-on-year) and India (+12%), whilst supplies from Turkey (-13%), China (-2%), Ukraine (-17%), South Korea (-31%) and Vietnam (-49%) fell.

In the fourth quarter of 2025, total steel imports into the EU recorded an exceptional one-off increase (+53% year-on-year), alongside rolled steel (+35% year-on-year).

At the same time, steel exports from the EU to third countries continue to weaken against a backdrop of global trade tensions. In the first two months of the year, they fell by -33% year-on-year. Flat steel exports in January–February fell by 30% year-on-year, including declines in the flat steel segment (-29%) and the long steel segment (-33%).

During this period, the main destinations for steel exports from the EU were the United Kingdom, Turkey, Switzerland, the United States and India, which together accounted for 61% of the total volume of European steel exports.

In January–February, exports to all major destination markets fell sharply, particularly to the United States (-46% year-on-year), Turkey (-23%), China (-13%) and Norway (-20%). Switzerland was the only major destination to record growth (+2% year-on-year).

It should be noted that, according to EUROFER’s forecast, apparent steel consumption in the EU will continue to grow, albeit at a more moderate pace: by 0.4% year-on-year in 2026, to 135 million tonnes.