Why this market is moving now
- The Commission's October 2025 proposal would halve tariff-free steel imports and lift the out-of-quota duty to 50%.
- Stegra has closed a €1.4 billion financing round and its main process tower has reached full height.
- The Action Plan targets €100 billion through the Industrial Decarbonisation Bank.
Key figures
Each figure names the source it came from. Open the source list below to read the quoted line.
| Figure | Value | Year | Source |
|---|---|---|---|
| The EU (27) produced 126.2 million tonnes of crude steel in 2025, down 2.6% on 2024. | 126.2 million tonnes | 2025 | World Steel Association |
| The EU (27) produced 94.5 million tonnes of crude steel in January to September 2026, down 0.8%, with September output of 10.1 million tonnes down 5.0%. | 94.5 million tonnes | 2026 | World Steel Association |
| On 7 October 2025 the Commission proposed limiting tariff-free steel imports to 18.3 million tonnes a year, 47% below 2024 quotas, with an out-of-quota duty of 50%. | 18.3 million tonnes per year | 2025 | European Commission |
| The Commission's Steel and Metals Action Plan targets €100 billion through the Industrial Decarbonisation Bank, with a €1 billion pilot auction in 2025. | 100 billion EUR (target) | 2025 | European Commission |
| The EU steel industry has about 500 production sites in 22 Member States, contributes around €80 billion to EU GDP and supports over 2.6 million jobs. | 500 production sites | 2025 | European Commission |
| Stegra announced the closing of a €1.4 billion financing round on 24 June 2026 for its green steel plant in Boden, Sweden. | 1.4 billion EUR | 2026 | Stegra |
| Stegra's DRI tower in Boden reached its final height of 145 metres on 18 July 2026. | 145 metres | 2026 | Stegra |
| Stegra signed a customer agreement with thyssenkrupp Materials Services on 12 January 2026 and an agreement with Google on environmental attribute certificates on 17 September 2026. | 2 announced agreements | 2026 | Stegra |
Sources and method
The figures on this page come from the public sources listed below. Read how we work.
- World Steel Association: December 2025 crude steel production (2026-01)
Quoted lines
- Figure 1
EU (27) 9.9 3.9 126.2 -2.6
- Figure 1
- World Steel Association: September 2026 crude steel production (2026-10-23)
Quoted lines
- Figure 2
EU (27) 10.1 -5.0 94.5 -0.8
- Figure 2
- European Commission: Commission proposes plan to protect EU steel industry from unfair impacts of global overcapacity (2025-10-07)
Quoted lines
- Figure 3
limiting tariff-free import volumes to 18.3 million tonnes a year (a reduction of 47% compared to 2024 steel quotas)
- Figure 3
- European Commission: Commission's Action Plan to secure a competitive and decarbonised steel and metals industry in Europe (2025-03-24)
Quoted lines
- Figure 4
the Commission targets €100 billion through the Industrial Decarbonisation Bank
- Figure 5
approximately 500 production sites across 22 Member States, contributes around €80 billion to the EU's GDP and supports over 2.6 million jobs.
- Figure 4
- Stegra: Stegra: Decarbonizing at scale (news timeline) (2026-09-17)
Quoted lines
- Figure 6
2026.06.24 Stegra announces closing of €1.4 billion financing round.
- Figure 7
2026.07.18 The DRI tower reaches its final height of 145 meters.
- Figure 8
2026.01.12 Customer agreement with thyssenkrupp Materials Services.
- Figure 6
Companies to watch
Stegra
Building an integrated green steel plant in Boden, Sweden; closed a €1.4 billion financing round in June 2026.
thyssenkrupp Materials Services
Signed a customer agreement with Stegra on 12 January 2026.
Agreed with Stegra on environmental attribute certificates on 17 September 2026; source https://stegra.com/en.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the European Union market - 03Market size, 2021 to 2025
Historical series and growth rates - 04Outlook to 2031
Base, low and high scenarios with stated assumptions - 05Rules, policy and deadlines
Regulation and programmes that change demand - 06Drivers and barriers
What accelerates or slows adoption, by customer segment - 07Prices, costs and margins
Unit economics where public data allows - 08Competitive landscape
8 to 12 company profiles with recent moves - 09Opportunities and risks
For new entrants, suppliers and investors - 10Method and sources
Every assumption and source, listed
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Frequently asked questions
How much steel does the EU produce?
The World Steel Association reports EU (27) crude steel production of 126.2 million tonnes in 2025, down 2.6%. January to September 2026 was 94.5 million tonnes.
What is the EU proposing on steel imports?
On 7 October 2025 the Commission proposed limiting tariff-free imports to 18.3 million tonnes a year, 47% below 2024 quotas, with a 50% out-of-quota duty.
What is Stegra?
Stegra is building a green steel plant in Boden, Sweden. It closed a €1.4 billion financing round on 24 June 2026.
How much EU money is planned for steel decarbonisation?
The Commission's Steel and Metals Action Plan targets €100 billion through the Industrial Decarbonisation Bank, with a €1 billion pilot auction in 2025.
How big is the EU steel industry?
The Commission says it has about 500 production sites in 22 Member States, contributes around €80 billion to EU GDP and supports over 2.6 million jobs.
Who has agreed to buy Stegra's green steel?
Stegra lists a customer agreement with thyssenkrupp Materials Services (January 2026) and an agreement with Google on environmental attribute certificates (September 2026).
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