The European Steel Association (EUROFER) issued a stark warning, stating that the latest OECD data confirms a worsening global steel crisis that poses an existential threat to European steelmaking, investment, and jobs. 

According to the OECD, global steel excess capacity reached approximately 640 million tons in 2025, more than 200 million tons above total OECD steel production, while global steelmaking capacity climbed to a record 2.4 billion tons, with both figures expected to keep rising. 

EUROFER's Director-General Axel Eggert emphasized that the scale and growth of overcapacity is not only massive but threatens the very foundation of the European steel industry. 

In response, EUROFER is urgently calling on the EU to swiftly adopt its new steel trade measure, currently under negotiation, which would introduce a tariff-rate quota (TRQ) system to allow controlled import volumes while shielding the EU market from overcapacity and trade diversion. The association cautioned that any weakening of the proposed measure would significantly undermine its effectiveness in stabilizing the market.