The European Steel Association announced that approximately 10 million tons of crude steel production capacity was brought back into operation in Europe in 2026 and investment decisions totaling at least EUR 3.4 billion were made.
EUROFER reported that confidence in the European steel industry has begun to recover 100 days after the European Union’s new steel trade measure came into force. The reactivated capacity is estimated to have contributed to safeguarding up to 80,000 jobs across the European steel value chain. An additional EUR 2.4 billion in investment decisions is expected by the end of the year.
Developments in the sector were discussed during a meeting between EUROFER’s newly elected President Geert van Poelvoorde, its vice presidents and European Commissioner for Trade and Economic Security Maroš Šefčovič.
The trade measure, which entered into force on July 1 to address global steel overcapacity affecting the EU market, limits annual duty-free steel imports to 18.3 million tons. Imports exceeding the tariff quota are subject to a 50% customs duty. EUROFER stated that the EU remains the world’s largest steel import market.
According to the association, EU steel imports increased by 14% in 2025, while production decreased to a historic low of 125.8 million tons. EUROFER noted that it is still too early to fully assess the impact of the new measure, although initial indicators have been positive.
However, EUROFER emphasized that recent developments represent early signs of stabilization rather than a sustained recovery. According to the association’s 2026–2027 Economic and Steel Market Outlook report, EU steel exports decreased by 9 million tons between 2018 and 2025. Exports also decreased by 20% in the first half of 2026 compared to the same period last year. EU steel demand is expected to increase by only 0.1% this year.
EUROFER President Geert van Poelvoorde stated that the new trade measure has provided the industry with much-needed room to operate. He noted that production capacities are being brought back online and investment decisions are being made following years of decline, while emphasizing that stabilization does not yet mean recovery.
Van Poelvoorde stressed the need for effective measures to prevent circumvention of the trade measure, internationally competitive energy prices, fair carbon emission costs for European industry and an effective Carbon Border Adjustment Mechanism (CBAM). He also called for stronger market conditions to support demand for steel produced in the EU.
