Europe's steel industry restarts 10 million tons of crude steelmaking capacity in 2026

The European Steel Association (EUROFER) reports that around 10 million tons of European crude steel capacity has been restarted in 2026, backed by at least EUR 3.4 billion in confirmed investment decisions and another EUR 2.4 billion expected by year-end, safeguarding up to 80,000 jobs across the steel value chain.

The uptick comes 100 days after the EU's July 1 trade measure took effect, capping duty-free steel imports at 18.3 million tons and imposing a 50% tariff on excess shipments to curb global overcapacity.

EUROFER cautioned that the sector is showing only early signs of stabilization rather than a sustained recovery, citing weak exports and just 0.1% projected demand growth for 2026.