Steel Products
March 23, 2013
SMU Steel Buyers Sentiment Index 3MMA Trending Lower
Written by John Packard
Based on the results from the Steel Market Update (SMU) steel survey which began on Monday and concluded earlier today, the SMU Steel Buyers Sentiment Index remained mildly optimistic and was measured at +17. This is a 2 point improvement over the +15 reported at the beginning of March. The +17 recorded for the middle of March is 22 points less than the +39 recorded one year ago. The +17 is also 10 points below the highest reading so far this year which was recorded during the middle of January and early February 2013. Any reading above +10 is considered to be within the optimistic range of our Index.
Our three-month moving average (3MMA) is +21.5 and is now trending lower. During the middle of February our 3MMA was reported at +23.5 and was trending higher at that point in time.
