SMU Steel Buyers Sentiment Index Continues Optimistic Trend

Even though our Steel Market Update Steel Buyers Sentiment Index dropped 3 points to +62 this week, it is still well within the optimistic range and close to the record high which was set at the beginning of this month. This continued optimism is reflected when looking at Sentiment based on a 3-month moving average (3MMA). Our 3MMA set a new record high of +59.88, up 0.66 points from the beginning of this month.

The level of optimism is clear when looking at where our Index was one year ago. At that time the SMU Sentiment Index was +37 or 25 points below our current level. The 3 month moving average was also much lower last year having been measured at +27.67.