Steel exports from the European Union fell sharply in Q2 2025. According to the EUROFER Economic and Steel Market Outlook Q3 report, shipments to third countries decreased by 12% y/y, following a slight increase of 1% in the previous quarter. The decline occurred in both the flat and long products segments, indicating a general weakening of external demand for European steel.

Finished product shipments fell by 10% y/y, including flat products by 5% y/y and long products by 20% y/y. Among individual categories, exports of rebar (-49% y/y), wire (-27% y/y), and long products (-14% y/y) fell the most. In contrast, the only positive exception in the flat steel segment was hot-rolled coil shipments, which increased by 9% y-o-y.

The largest markets for European steel in Q2 remained the UK, the US, Turkey, Switzerland, and Egypt, which together accounted for 60% of all shipments. Exports to the UK grew by 12% y/y, while shipments to the US fell by 18% y/y and to Egypt by 41% y/y. Declines were also recorded in exports to Turkey (-14% y/y) and China (-17% y/y).

In 2024, exports of rolled metal products from the EU continued to grow (+4% y/y), but in 2025 the trend changed dramatically. Experts attribute this to a combination of factors: weak demand in the global economy, escalating trade disputes, and the effect of new US tariffs, which affect the competitiveness of European steel.

Thus, the results of the second quarter showed that external markets are no longer compensating for weak domestic demand. European producers are facing double pressure: high imports in the domestic market and a decline in exports to foreign markets.

In the first quarter of 2025, the European Union steel market showed mixed dynamics. Real steel consumption declined for the eleventh consecutive quarter, by 5.5% y/y. At the same time, apparent consumption grew by 2.2% y/y.