SMU Steel Buyers Sentiment Index Sets New Record High

Records seem to be breaking just about every time we measure how flat rolled steel buyers and sellers feel about their company’s ability to be successful in the current market environment. There has been a growing optimism within the steel community as business conditions improve for most market segments. This optimism is reported in our SMU Steel Buyers Sentiment Index which was measured at +62 this week.

The +62 reading is the highest ever recorded, breaking the previous high set at the beginning of May when Sentiment was reported as being +59. Since the beginning of the calendar year Sentiment has added +19, indicating attitudes have improved over the past 5 months (more optimistic). To provide some balance and to remind our readers, Sentiment was measured at -85 back in March 2009 –the most pessimistic our Index ever recorded.