SMU Data and Models
March 6, 2014
SMU Steel Buyers Sentiment Index at +37
Written by John Packard
Buyers and sellers of flat rolled steel continue to be optimistic regarding business prospects both in the current market environment as well as looking out 3 to 6 months into the future. Even so, our index was 2 points lower than the +39 measured during the middle of February and at +37 is the lowest (albeit optimistic) level we have measured this year. The last time we saw +37 was during the middle of December 2013.
The three month moving average (3MMA), which had been rising since mid-December 2013, declined to +40.00. Many within the industry have been calling for 2014 to be quite similar to 2013 but what our data is suggesting is the market is much more optimistic this year than last. The 3MMA during the beginning of March 2013 was +23.33 which is much less optimistic than our current average.
