The World Steel Association has released its short-range steel demand forecast for 2026–2027. The report projects that global steel demand will see a modest increase of 0.3% in 2026, reaching 1.724 billion tonnes, followed by an accelerated growth of 2.2% in 2027, reaching 1.762 billion tonnes.
The specific forecast data from the report is summarized as follows:
|
Year |
Global Demand |
Year-over-Year Growth |
|
2026 |
1.724 billion tons |
+0.3% (Slight increase) |
|
2027 |
1.762 billion tons |
+2.2% (Accelerated growth) |
In its report, the World Steel Association's Market Research Committee noted that this marks a turning point where global steel demand—following a period of structural adjustment since 2022—is projected to bottom out and rebound during the 2025–2026 period.
This report also analyzes the demand outlook for major economies; key highlights are as follows:
China: The magnitude of the decline in demand is expected to narrow, potentially entering a phase of cyclical stability in 2027.
India: It remains the world's fastest-growing major market, projected to expand by 7.4% in 2026 and 9.2% in 2027, respectively.
United States: Supported by private sector investment and infrastructure spending, growth is projected at 1.7% in 2026 and 2.0% in 2027.
Europe: Benefiting from increased infrastructure and defense spending, growth is projected at 1.3% in 2026, accelerating to 3.0% in 2027.
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