SMU Sentiment Index: Optimism Continues Despite Weather

Steel Market Update (SMU) began collecting responses for the mid-February flat rolled steel market survey during the week of February 17th. Even with weather related issues being felt around the country, our Buyers Sentiment Index was measured at a robust +39 at that time. That result was 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.