The latest market sentiment survey by the European Federation for Distribution and Trade of Steel, Pipes and Metals (EUROMETAL) for October 2025 shows a cautious sentiment among European steel distributors.
Although current market activity appears to have stabilized after several months of decline, confidence in a sustained recovery remains weak. The industry continues to face volatile demand, low recognition, and defensive strategies in the last quarter of the year.
The assessment of current business activity remained stable in October, marking the second consecutive month without further deterioration. Although activity remains slightly below neutral, this stability suggests that the market may have reached its lowest point since the sharp decline in the summer.
The forecast for the fourth quarter has slightly deteriorated
Expectations for the next quarter decreased slightly, reversing the cautious optimism recorded in September. The deterioration in sentiment points to continued uncertainty about demand and economic difficulties in the main EU markets, with distributors maintaining a wait-and-see attitude.
Stock forecasts remain largely unchanged, as most distributors adhere to defensive strategies and expect stable volumes. Nevertheless, price expectations rose for the third month in a row, showing the strongest positive result since the beginning of spring 2025.
This trend suggests that distributors expect moderate price increases in the coming months, which may be a reflection of tighter supply cycles and restocking in the fourth quarter.
Industry remains cautious despite improved price sentiment
The October survey revealed a situation in the sector where the stability of operations contrasts with weak confidence in the future. Although pricing sentiment is improving, distributors remain cautious amid weak demand fundamentals and a limited chance of recovery.
According to EUROMETAL, maintaining this cautious optimism may mark the first stage of market consolidation, but only if underlying demand begins to recover at the end of 2025.
Steelorbis.com
