European Steel Exports Decline Significantly Due to High Costs and Global Competition

European steel exports have fallen by a fifth, with production reaching historical lows, as the industry contends with escalating energy costs, US tariffs, and substantial oversupply from China. Exports to the US dropped 29% in H1 2026 due to 50% tariffs, while shipments to Turkey, India, and China also decreased by at least 18%. This highlights intense competition from cheaper foreign production and significant challenges for the European steel sector.