Global steel demand forecast downgraded

The association lowered its 2026 growth projection from 0.3% to zero and reduced its 2027 forecast from 2.2% to 1.7%. Global steel demand is now expected to remain at 1.722 billion tonnes in 2026 before reaching 1.752 billion tonnes in 2027. The downward revision was primarily attributed to the ongoing contraction in China's real estate sector and weak infrastructure investment.

In contrast to the global outlook, steel demand in Türkiye is expected to continue growing. Worldsteel forecasts that Türkiye's finished steel demand will increase by 2.9% to 40.4 million tonnes in 2026, followed by a 3% rise to 41.6 million tonnes in 2027. Meanwhile, steel demand in China is projected to decline by 2% this year, while India is expected to record growth of 7.9%. The figures highlight the continued divergence in regional performance across the global steel industry.