1. Macro and trade environment
The global steel market is in a stalemate characterized by "cost inflation and demand suppression". The geopolitical situation in the Middle East has pushed up logistics and raw material costs, while trade protectionism is on the rise. The European Union has raised the import tariff on steel to 50%, and Brazil, the United States, South Korea, and other countries have recently launched anti-dumping investigations against China or other countries.
2. Europe and the United States accelerate the transition to "green steel"
Steel enterprises in Europe and North America are vigorously advancing their low-carbon transformation. ThyssenKrupp of Germany is expected to conduct a trial run of its hydrogen-based direct reduction iron plant in the third quarter; companies such as Stelco in Canada and the United States Steel Corporation have also invested heavily in constructing electric arc furnaces and low-carbon production facilities to cope with environmental pressures.
3. Asian market: Demand in Central Asia surges, while Ukraine's production plummets
Driven by large-scale infrastructure projects such as the China-Kyrgyzstan-Uzbekistan railway, Central Asia has become an area with explosive demand for steel and an emerging blue ocean for China's exports. Conversely, due to damaged railway facilities, Ukraine's crude steel production plummeted by 45% year-on-year in April, potentially affecting the supply of long steel products in Europe.
4. Regional supply and demand differentiation
Southeast Asia is expected to continue to see an increase in steel demand in 2026, but faces energy risks; Japan's JFE Steel announced a restructuring of its steel business in response to declining domestic demand; Brazilian steel companies benefited from the recovery of infrastructure, with a significant increase in net profit in the first quarter.
Post time: May-19-2026