MOSCOW, October 13. /TASS/. The World Steel Association (WSA) expects global steel demand to increase by 1.3% in 2026 to reach 1.772 bln metric tons. In 2025, demand is projected to total 1.75 bln tons, roughly in line with 2024 levels, the association said in its forecast.

According to the WSA, the anticipated growth in 2026 will be driven by a combination of strong regional trends - a slowdown in the decline of steel demand from China, coupled with robust growth in developing countries such as India, Vietnam, Egypt, and Saudi Arabia, as well as a long-awaited recovery of steel demand in Europe.

Country Outlook

The forecast indicates that China’s steel demand will continue to decline in 2025, falling by approximately 2%. However, the WSA projects that by 2026 the rate of decline in the country’s housing market will slow to about 1%, as the market approaches the bottom.

India, meanwhile, is expected to maintain strong growth, with steel demand increasing by about 9% in both 2025 and 2026, supported by expansion across all steel-consuming sectors, WSA wrote.

According to the report, in Africa, steel demand has grown at an average annual rate of 5.5% over the past three years, driven by vigorous economic activity, particularly in the northern and eastern regions of the continent.

For Central and South America, the WSA forecast a significant 5.5% increase in steel demand this year, fueled by Argentina’s market recovery following a downturn in 2024 and steady growth in Brazil, supported by government social housing programs.

The association also projected that steel demand in the EU and the United Kingdom will grow by 1.3% in 2025 and accelerate to 3.2% in 2026.

In the United States, WSA estimated that steel demand will rise by 1.8% in 2025, supported by infrastructure development and anticipation of higher tariffs. Growth is expected to continue at the same rate in 2026, driven by a rebound in housing construction and private investment, improved financing conditions, and reduced economic uncertainty.

WSA is one of the largest industrial associations globally, representing companies that account for about 85% of the world’s steel production.