[SMM Steel] Eurofer urges EU to act fast as global steel overcapacity hits record 2.4 billion mt

Published: Apr 1, 2026 18:53

Save

[SMM Steel] On March 25, 2026, the European Steel Association (Eurofer) issued a stark warning following the release of the latest OECD data, labeling global steel overcapacity an "existential threat" to European steelmaking, investment, and jobs. The data reveals that global steelmaking capacity has climbed to a record 2.4 billion mt, with excess capacity reaching 640 million mt in 2025—exceeding total OECD production by over 200 million mt. Eurofer Director-General Axel Eggert is calling for the immediate adoption of a robust tariff-rate quota (TRQ) system to shield the EU market from trade diversion and stabilize the domestic industry before current measures expire

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

1 hour ago

[SMM Lecong HRC Inventory] Lecong Inventory Continued to Accumulate This Week

Lecong HRC inventory was 827,400 mt this week, up 18,700 mt WoW (+2.31%); up 22.13% YoY (solar calendar) and up 16.00% YoY (lunar calendar).

1 hour ago

[SMM Shanghai HRC Inventory] Shanghai Inventory Drawdown Accelerated This Week

Shanghai HRC inventory stood at 490,800 mt this week, down 28,100 mt WoW, a decline of 5.42%; up 62.25% YoY by the Gregorian calendar and up 56.06% YoY by the lunar calendar.

1 hour ago

5 hours ago

[SMM Ningbo HRC Inventory] Ningbo Inventory Declined WoW This Week

This week, Ningbo HRC large-sample inventory was 439,000 mt, down 28,000 mt WoW, -6.00%, and up 24.72% YoY (lunar calendar basis).

5 hours ago