[SMM Iron & Steel] Worldsteel Forecasts 1.3% Global Steel Demand Growth for 2026

Published: Mar 10, 2026 13:37

Save

The World Steel Association (Worldsteel) projected that global steel demand will rebound by 1.3% in 2026 to 1.77 billion tonnes. While Chinese demand is expected to decline by 1%, India’s consumption is forecast to grow by 9%, adding roughly 75 million tonnes of demand compared to 2020 levels.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 mins ago

[SMM Zhangjiagang HRC Inventory] Inventory Growth in Zhangjiagang Slowed Down This Week

This week, Zhangjiagang HRC inventory stood at 315,000 mt, up 2,000 mt WoW, an increase of 0.64%; the YoY decline was 27.42% on a Gregorian calendar basis and 25.53% on a lunar calendar basis.

9 mins ago

16 mins ago

[SMM Chromium Daily Commentary] Quotes Rose Steadily, With Strong Support at the Bottom

[SMM Chrome Daily Commentary: Quotes Rose Steadily, Strong Support at the Bottom] News on March 10, 2026: Both ferrochrome and chrome ore quotes rose slightly……

16 mins ago

24 mins ago

[SMM Coking Coal and Coke Daily Brief Review] 20260310

[SMM Daily Brief Commentary on Coking Coal and Coke] In terms of supply, most coke producers were in a loss-making position, and some coke producers saw inventory buildup, which continued to suppress their production incentives, with coke oven operating rates edging down. Demand side, steel mills’ coke inventory was at a reasonable level, and they were still mainly purchasing as needed; steel mills showed signs of controlling arrivals. In addition, the impact of steel mills’ voluntary production cuts during the Two Sessions led to a decline in the daily average hot metal output, weakening rigid demand for coke. Overall, coke fundamentals remained unoptimistic, and cost support was expected to weaken; in the short term, the coke market may remain in the doldrums.

24 mins ago