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Economic and steel market outlook 2019-2020, second quarter
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Final figures for 2018 show that the EU28 steel market grew by 3.3%. The preliminary safeguard measures could not prevent third country imports from rising by 12.6% and, as a consequence, local steel producers being flattened by deflected and cut-price steel products from outside the EU.
Meanwhile, the relaxation of the final safeguard measures – with an enlargement of 5% in February this year with another upwards revision of 5% scheduled for July – is completely out of step with the anticipated decline of the EU steel market in 2019. As such, the 10% increase in import quota allowed in the final safeguard measures risks squeezing the EU steel sector, as it will be exposed to rising import pressure in a depressed market.
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A milestone occasion to quickly and effectively restore affordable electricity, to relaunch the
decarbonization and strengthen the international competitiveness of the European steel
industry.
Brussels, 02 December 2025 – Unchanged negative conditions – U.S. tariffs and trade disruptions, economic and geopolitical tensions, protracted weak demand and still high energy prices – continue to weigh on the European steel market. EUROFER’s latest Economic and Steel Market Outlook confirms for 2025 another recession in both apparent steel consumption (-0.2%, unchanged) and steel-using sectors (-0.5%, revised from -0.7%). A potential recovery is expected only in 2026 for the Steel Weighted Industrial Production index (SWIP) (+1.8%, stable) and for apparent steel consumption (+3%, slightly revised from +3.1%) – although consumption volumes would still remain well below pre-pandemic levels. Steel imports retained historically high shares (27%), while exports plummeted (-9%) in the first eight months of 2025.
Fourth quarter 2025 report. Data up to, and including, second quarter 2025