SMU Steel Buyers Sentiment Index Remains Optimistic

In spite of the federal government’s decision to shut down, those involved in the flat rolled steel industry continue to remain optimistic about their company’s ability to be successful in both the current environment as well as 3-6 months into the future.

Steel Market Update (SMU) just completed our beginning of October flat rolled steel market survey. The analysis of the responses provided by those responding to our questionnaire produced a reading of +37 which is well within the optimistic range of our index. The new reading is down 3 points from  mid-September and 2 points from what we reported one month ago. This time last year Sentiment was +14 or 13 points lower than this week. The current three month moving average (3MMA) is +38.83, down slightly from the 39.00 measured two weeks ago. One year ago the 3MMA was 20.00.