The World Steel Association (worldsteel) released its latest short-range outlook in New Delhi, downgrading its projection for global steel consumption. The association now forecasts that global steel demand will remain flat at 1,722 million tonnes in 2026, instead of the mild growth previously expected. The major downward pressure comes from China, where steel demand is set to fall by 2% this year. The prolonged downturn in the real estate sector has not eased as expected, while infrastructure investment fails to deliver strong offsetting support. Although China’s manufacturing steel consumption has grown thanks to robust export orders, the gain cannot fully make up for losses from construction-related sectors. For 2027, worldsteel expects China’s steel demand decline to narrow to 1%, as the property downturn decelerates. India remains the world’s fastest-growing major steel market; its steel demand is projected to rise 7.9% in 2026 and 8.0% in 2027, driven by infrastructure construction, private housing investment and expanding manufacturing output. Trade frictions are highlighted as a key risk factor that may disrupt the projected recovery across developing economies.