SMU Steel Sentiment Index Continues on Its Optimistic Track

Since 2008, Steel Market Update has been measuring how steel buyers and sellers feel about their company’s ability to be successful in the existing market environment (which we call “Current Sentiment”). We also probe the same group of manufacturers, steel service centers, steel mills, trading companies and toll processors on how they feel about their company’s ability to be successful three to six months into the future (“Future Sentiment”). Our analysis is done twice per month and we have just completed our analysis of the responses received since Tuesday of this week. An explanation of the Index values are explained at the end of this article.

The single data point for Current Sentiment came in at +71 matching the record high for the index first achieved in mid-April 2016. However, we prefer to look at the data based on the three month moving average (3MMA). The three month moving average set a new record high of +69.17 surpassing the last high achieved in our last survey (+69.0). One year ago our 3MMA was +56.0.