European distributors are waiting for clearer signals of recovery but seeing deterioration pause, according to the latest market sentiment survey by industry association, EUROMETAL.
Steel distributors continue manage their inventories cautiously, but price expectations have consolidated at positive levels, suggesting that sentiment is gradually improving on the pricing side, even as demand fundamentals remain weak, Kallanish learns.
EUROMETAL’s survey is based on responses from 200 industry participants, who report that activity in January saw little development compared with the final months of 2025. Still, the responses also suggest that the near-term outlook is improving slightly, Kallanish understands. While confidence remains fragile, the January results suggest that pessimism has eased somewhat, with fewer respondents expecting a further deterioration.
Most distributors expect stock levels to remain broadly stable over the next three months, with no indication of active or aggressive restocking. Regarding prices, “the sentiment has now consolidated clearly above the neutral line,” EUROMETAL reports, as a growing share of distributors expect prices to hold firm or increase moderately in the coming months.
At the bottom line, EUROMETAL cautions that clear demand-driven recovery is not yet in sight, but also notes that positive price expectations stand out as a potentially important signal.
