Velina Tchakarova: Market access and reliability becoming key competitive factors for steel

Geopolitical fragmentation is reshaping global steel trade, with market access, supply chain reliability and regulatory compliance becoming increasingly important competitive factors alongside production costs and prices, according to geopolitical strategist and FACE founder Velina Tchakarova, speaking at the SteelOrbis 2026 Fall Conference & 95th IREPAS Meeting held in Belgrade on September 27-29. Ms. Tchakarova stated that steel has become a strategic asset rather than merely a tradable commodity, as geopolitical competition increasingly extends to tariffs, sanctions, export controls, energy, logistics and financial systems. Ms. Tchakarova highlighted the combination of rising global excess steel capacity and increasing trade barriers as a major challenge. According to the data presented, global excess steelmaking capacity is expected to increase from around 640 million mt to 745 million mt by 2028, while the number of trade barriers has increased fivefold.