SMU Data and Models
May 8, 2014
SMU Steel Buyers Sentiment Index Sets New Record High
Written by John Packard
Buyers and sellers of steel continue to grow in their belief that their company will be successful in both the existing market as well as out into the future. A new record high for our Index was achieved this week as our Steel Market Update (SMU) Steel Buyers Sentiment Index was measured at +59. This is one point better than the old high achieved during the middle of April.
The trend has been for an even more optimistic industry as rising flat rolled steel prices increase the value of inventories on the floor and demand continues to improve in the non-residential construction sector of the steel market. The three month moving average (3MMA) for our Sentiment Index also set a new high at +46.5. One month ago the 3MMA was +43.33 and one year ago it was +18.5.
