The World Steel Association (worldsteel) released its Short-Range Outlook, forecasting a 1.3% increase in global steel demand in 2026 to reach 1.773 billion tonnes, following nearly flat growth in 2025. The recovery will be driven by infrastructure investment, renewable energy projects, and manufacturing recovery in major economies. India will lead major markets with around 9% demand growth in both 2025 and 2026, supported by strong construction, automotive, and government infrastructure spending. Demand in the US is expected to grow by 1.8%, supported by infrastructure spending and easing financing conditions. The outlook remains cautious due to ongoing trade tensions, geopolitical risks, and uneven global economic recovery.