SMU Sentiment Index Still Optimistic Despite Harsh Winter Weather

Steel Market Update (SMU) began collecting responses earlier this week from the just shy 600 companies invited to participate in our twice monthly flat rolled steel market analysis. The individuals responding to our questions this week – particularly those related to our SMU Steel Buyers Sentiment Index – were being influenced by weather related issues around the country. Even so, our Buyers Sentiment Index was measured at +40 this week. Although down 4 points from our last measurement which was made during the middle of January, Sentiment is clearly rooted in an strong optimistic trend which began in the middle of June 2013 when Sentiment jumped from +22 (and lower in prior months) to +35 and has averaged +39 ever since.

The three month moving average (3MMA) is +39.33 a one point improvement from one month ago and 1.5 points better than two months ago. One year ago SMU Steel Buyers Sentiment Index was recorded at +27 and was trending lower. To view a history of the SMU Steel Buyers Sentiment Index click here.