According to the Economic and Steel Market Outlook 2025–2026 / Q3 2025 report issued by the Economic Committee of the European Steel Association (Eurofer), the EU’s steel exports to external markets fell by 12% year-on-year in the second quarter of 2025, following a modest 1% increase in the first quarter.
Exports of finished and flat products declined by 10% and 5% respectively, while exports of long products dropped sharply by 20% year-on-year.
Eurofer data shows that the main destinations for EU finished steel exports in Q2 were the United Kingdom, the United States, Turkey, Switzerland, and Egypt, which together accounted for 60% of total finished steel exports. Some markets recorded annual growth, including the United Kingdom (+12%), Serbia (+4%), and Brazil (+1%). Meanwhile, exports to Egypt fell by 41%, and exports to the United States (-18%), China (-17%), Norway (-15%), Turkey (-14%), and Switzerland (-4%) all contracted.
During this period, the EU’s average monthly trade deficit, including semis, reached around 1.7 million metric tons, compared to a monthly average of 1.4 million metric tons in 2024. Finished steel accounted for 976,000 metric tons of this deficit.
The five largest trade deficits in finished steel during Q2 2025 were recorded with:
-
Turkey (294,000 metric tons)
-
South Korea (259,000 metric tons)
-
China (163,000 metric tons)
-
India (158,000 metric tons)
-
Ukraine (152,000 metric tons)
