EU's steel imports slumped 23% year on year (YoY) in the first quarter of 2026, figures from the European Steel Association (EUROFER), outlined in its second quarter report Economic and Steel Market Outlook 2026-2027.

Rolled steel imports declined 17% YoY across the quarter, dragged by lower flat steel shipments (-17% YoY) and long steel supplies (-19% YoY).

Turkey, South Korea, China, India, Ukraine, Indonesia and Vietnam stood as the EU's top rolled steel import suppliers for January-March. The five largest origins captured a combined 54% of total imports.

Turkey led the pack with a 17.2% share, followed by South Korea at 11.5%, China 9.9%, India 8.9%, Ukraine 7.3% and Indonesia 6.4%.

Import trends diverged widely across source nations. Indonesia (+19% YoY) and India (+12% YoY) delivered higher shipments in the first quarter, whereas inflows retreated from Turkey (-13%), China (-2%), Ukraine (-17%), South Korea (-31%) and Vietnam (-49%).

Total EU steel imports had posted an abnormal one-off surge of 53% YoY in the fourth quarter of 2025, with rolled steel imports rising 35% YoY over the same window.

Global trade frictions have weighed on EU steel outbound shipments, with exports to third countries diving 33% YoY over January-February. Flat steel exports fell 30% YoY in the two-month period, split between a 29% drop in flat products and a 33% decline for long steel grades.

The UK, Turkey, Switzerland, the U.S. and India made up the bloc's core steel export destinations in the first two months, collectively absorbing 61% of all EU steel exports.

Shipments to every key market contracted sharply over the period: exports to the U.S. sank 46% YoY, Turkey 23%, China 13% and Norway 20%. Switzerland marked the sole major destination to register positive growth at 2% YoY.