SMU Steel Buyers Sentiment Index Slightly Less Optimistic

After months of uncertainty related to governmental policies and the fiscal cliff negotiations (or lack thereof) combined with normal end of the year seasonal factors, steel buyers and sellers finished 2012 in the Optimistic range of the SMU Steel Buyers Sentiment index. During the first week of 2013 those same buyers and sellers were slightly less optimistic than they were during the middle of December as our SMU Steel Buyers Sentiment Index was measured at +21, down 7 points from the mid-Decemberwas measured at +21, down 7 points from the mid-December level. Compared to one year ago, Sentiment is 20 points lower than the +41 reported at this time last year.

Steel Market Update (SMU) invited 690 companies to participate in our survey, which began on Wednesday of this past week and ran through the end of the week. During the survey process a number of companies provided comments in order to explain the reasoning behind their responses.