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OECD warns global steel excess capacity could hit 745 million tonnes by 2028, with weak demand and rising capacity weighing on mills.

The EU-US tariff package advanced in committee, cutting duties on many U.S. goods while adding safeguards and a 2029 sunset clause.

EU iron ore imports from non member countries fell 11.3% since 2020 as domestic output and exports also declined by 2025.

European stocks closed lower Monday as the STOXX 600 fell 0.8%, with oil prices, Middle East tensions and sector moves in focus again.

EU unemployment held steady in April, with jobless totals down from March and youth unemployment easing in the latest labour data.

S&P Global’s Italy manufacturing PMI rose to 52.9 in May, marking the strongest sector reading since April 2022 as output and orders improved.

Portugal recorded 2.3% annual GDP growth in the first quarter of 2026, as domestic demand offset a weaker external trade contribution.

IEA projects global energy investment at $3.4 trillion in 2026, led by electricity, clean energy, grids, storage, gas and coal spending.

EU goods imports reached €627.8 billion and exports hit €640.5 billion in Q1 2026, leaving a €12.7 billion surplus, Eurostat data showed.

UNCTAD projects global growth to slow to 2.6% in 2026 as trade, energy, food and finance pressures weigh on the broader world economy.