[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

2 mins ago

[SMM Hot Topic] Estimated “Cliff-Like” Drop in China’s Steel Exports—A Ramadan Pattern or a War Shock?

2 mins ago

1 hour ago

[SMM Iron & Steel] India’s Coking Coal Output from BCCL Declines 1.6% in February

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, reported a 1.6% decline in coking coal production for February 2026. This minor contraction comes as India designates coking coal as a "critical mineral" to reduce import dependency, even as port traffic for coking coal imports rose 11% in the April-February FY26 period.

1 hour ago

[SMM Iron & Steel] Qatar LNG Disruptions Trigger 15-Month High in Coal Prices

Coal prices rallied to $138 per ton in early March 2026, a 15-month high, following an Iranian drone strike on Qatar's main LNG export hub. The rare shutdown of 20% of global LNG supply has forced Asian economies, including Taiwan, to switch to coal-fired power generation, tightening the global thermal coal market.

1 hour ago