SMU Sentiment Index: Optimism Continues Despite Weather

Steel Market Update (SMU) began collecting responses earlier this week from the companies invited to participate in our twice monthly flat rolled steel market analysis. Even with weather related issues being felt around the country, our Buyers Sentiment Index was measured at a robust +39 this week. This result is one point lower than from our last measurement which was made during early-February. 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 +40.33, a one point improvement from both two weeks ago and one month ago. One year ago SMU Steel Buyers Sentiment Index 3MMA was recorded at +23.5 and was trending lower. To view a history of the SMU Steel Buyers Sentiment Index click here.