Global steel demand forecast cut to 0.3 percent growth
The industry group lowered its 2026 growth outlook to 0.3 percent due to the Iran war and China property slump. India remains a strong market for the sector.
Xurve View
Xurve View
The World Steel Association has lowered its growth forecast for global steel demand in 2026, citing the significant impact of the conflict in Iran on consumption within the Middle East. The industry group now expects demand to grow by only 0.3% to reach 1.72 billion metric tons, a sharp reduction from the 1.3% growth previously projected in October.
Alfonso Hidalgo Calcerrada, chair of the group’s economics committee, noted that the regional instability has severely disrupted a market that was previously on a path toward significant expansion.
