SMU Steel Buyers Sentiment Index Sets New Record Highs

Buyers and sellers of flat rolled steel continue to feel very good about their company’s prospects both in the existing market as well as looking out three to six months into the future. Steel Market Update (SMU) is of the opinion buyer optimism is connected to rising steel prices around the world which improves the value of inventories and expands margins.

Current Sentiment, which is how buyers and sellers feel about their company’s ability to be successful in the current market environment, was measured at +70.53. This is the highest single data point we have seen for Current Sentiment during the life of our Sentiment Index which goes back to November 2008. The current optimistic trend began shortly after the domestic steel mills announced their first price increase in this current cycle back in December 2015.