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The World Steel Association has lowered its forecast for global crude steel demand growth for 2026, citing the impact of conflicts in the Middle East. JIS G 3313 SEFC590 steel strip, The latest projections show the growth rate for global steel demand in 2026 being revised down from the previous estimate of 1.3% (made in October 2025) to 0.3%, with total demand expected to reach approximately 1.72 billion tonnes.
Alfonso Hidalgo Calcerrada, Chairman of the Association’s Economics Committee, noted that while the Middle East initially held strong growth potential, ongoing conflicts will lead to a significant decline in regional steel demand in 2026, thereby dragging down overall global performance.
The association projects a more pronounced rebound in global steel demand in 2027, with a growth rate of approximately 2.2% bringing the total volume to 1.76 billion tonnes; JIS G 3313 SEFC590 steel strip, the industry is expected to transition from a phase of sluggish growth to a trajectory of moderate recovery.
Regionally, demand in China—the world's largest steel producer—is forecast to decline by 1.5% in 2026, primarily due to the continued downturn in the real estate and construction sectors, before stabilizing in 2027. JIS G 3313 SEFC590 steel strip, The association anticipates that as the structural adjustment of the real estate market gradually stabilizes, China's steel demand will enter a "cyclical stabilization phase."
In contrast, India—the fastest-growing major steel market—is expected to maintain robust demand, with growth projected at 7.4% in 2026 and accelerating to 9.2% in 2027.
