Sweden’s steel consumption is forecast to rise 3 percent in 2026 to 3.4 million tonnes, supported by wind-turbine replacement, defence spending and grid build-out.
State-owned Vattenfall’s 2026–2030 capital plan totals SEK 165 billion (~€15.5 billion), of which approximately SEK 59 billion is allocated to new wind power. State-owned Svenska Kraftnät is channelling hundreds of millions of euros into northern grid expansion to feed green-steel mills. Sweden’s defense budget rises to approximately 2.6 percent of GDP.
Why it matters for green steel: Sweden’s grid build-out is a prerequisite for Stegra Boden, SSAB Oxelösund, and Hybrit commissioning by 2030, while steel-for-the-energy-transition demand reinforces the case for green output.