European steel demand is expected to rebound slightly from record lows, but the pace and extent of recovery remain uncertain. Industry experts at a recent market conference noted that while EU industrial activity may improve, factors such as high energy costs, trade disruptions, and geopolitical tensions continue to cloud the outlook.
Forecasts suggest that real demand could begin to pick up by late 2025 or early 2026, though the recovery will likely be uneven across regions. For example, Poland and Germany are experiencing different demand dynamics due to their varying industrial dependencies.
Market participants also highlighted the erosion of traditional economic and restocking cycles, with many buyers continuing to reduce inventories amid persistent uncertainty.
