World Steel Association Announces Global Demand Forecasts for 2026-2027
According to the report published by the World Steel Association, global steel demand expectations have been revised downward due to the contraction in China, while demand in Turkey is projected to increase.
The World Steel Association has released its Short-Range Outlook report covering the 2026-2027 period. While it was stated that the downward revision in global steel demand stems from China, expectations of growth continue in the Turkish and Indian markets.
Current Situation in Global Steel Demand
According to the report published by the World Steel Association (Worldsteel), global steel demand is estimated to remain at the level of 1 billion 722 million tons this year. Next year, demand is expected to increase by 1.7 percent and reach 1 billion 752 million tons.
Effects of the Structural Contraction in China
It was stated that almost all of the downward revision in forecasts stems from the structural contraction in China. Due to the continued decline in real estate investments in China, steel demand is projected to decrease by 2 percent in 2026 and 1 percent in 2027.
India's Growth Trend
India maintains its position as the fastest-growing steel market, supported by infrastructure projects and capacity increases in the manufacturing industry. Steel demand in the country is projected to reach 172.4 million tons in 2026 and 186.2 million tons in 2027.
Turkey's Steel Demand Expectations
According to the association's data, Turkey's steady upward trend in steel demand is expected to continue. Final steel products demand is estimated to increase by 2.9 percent in 2026 to reach 40.4 million tons, and rise by 3 percent in 2027 to reach 41.6 million tons.