European steel market expectations for 2025 are far more tempered than at the start of 2024. However, with new European Commissioners in place, 2025 is shaping up to be the year Europe implements the long called-for industrial and steel action plans. Decarbonisation is still critical – but not if it causes deindustrialisation.
European economic output, and particularly manufacturing, has failed to recover since Russia’s invasion of Ukraine smashed long-established political and economic norms. On the upside, Europe seems to have won its battle with inflation, and lower interest rates could spur more borrowing and investment later in 2025, providing a boost to steel demand. However, any recovery will remain fragile.
The rise of China as a competitor in manufactured goods exports has endangered European industry’s market share, while Donald Trump’s re-election as US President poses questions over European trade with one of its most important trading partners.
In 2025, Europe will need to tackle these issues while ensuring competitive energy prices for its steel industry and a smooth transition into Carbon Border Adjustment Mechanism application, which begins in earnest on 1 January 2026.
2025 is shaping up to be a pivotal year for the future of Europe’s steel industry. Join steel executives and market participants at Kallanish Europe Steel Markets 2025 to discuss steel sector prospects for 2025 and share your experiences and latest industry developments.
For more information, please visit Europe Steel Markets 2025
SPECIAL DISCOUNT FOR NASS MEMBERS ONLY! For your member offer code, please contact claire.carron@nass.org.uk