EUROMETAL survey: Europe sentiment improves, inventories foreseen declining

Global sentiment in European distributors’ association EUROMETAL’s latest, January survey indicates a slight improvement in current activity, although future activity, stock level and pricing expectations remain largely unchanged.

Although the three customer segments indicated stable current activity, the global sentiment indicator also includes the perspectives of steel experts that are not accounted for in the individual customer sector categories. This contributed to the sentiment improvement, EUROMETAL tells Kallanish.

Notably, the flat steel service centres distribution segment expects slight decreases in both activity and stock levels in the next three months.

By responder activity, those serving the automotive sector see slightly improved current activity and expect a slight decline in stock over the next three months. Survey respondents serving the construction, energy, manufacturing, packaging and tube sectors also see a slight improvement in current activity. Except for construction and energy, these segments also expect a slight decline in stock.

In terms of geography, respondents in France, the Nordics and Visegrad countries see slightly improved current activity, with the latter two also expecting a slight decline in stock over the next three months. The UK+Ireland see a slight deterioration in current activity, while Turkey expects higher stock levels and activity in the next three months. Pricing is seen remaining stable all round.

EUROMETAL divides the survey replies into three sets – “customer sector”, meaning association member type; “customer region”; and “responder activity”, referring to the end-use sector served.

Adam Smith Poland

kallanish.com