Davos 2026: How Trade Wars Are Reshaping The Global Steel Industry, TV Narendran Explains

At WEF Davos 2026, the global steel industry finds itself at the intersection of geopolitics, tariffs and shifting demand. Trade tensions between the US and Europe have disrupted long-assumed supply chains, hitting profits even as European infrastructure and defence spending offer fresh hope. China’s prolonged slowdown continues to weigh on global prices, but stabilising exports and policy shifts suggest the worst may be behind. With domestic demand holding strong in India, steelmakers are rethinking strategies—prioritising local markets, building supply-chain resilience and scouting new opportunities in regions like the Middle East and Africa. As tariffs, carbon rules and global realignments reshape trade, steel companies are adapting to a far more fragmented world economy.

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