SMU Sentiment Index is Making a Strong Move into the New Year

SMU Steel Buyers Sentiment Index has reversed trend and is rising (getting more optimistic) as we prepare to move into the New Year. On Monday of this week Steel Market Update (SMU) began conducting our mid-December flat rolled steel market trends analysis. We completed our inquiries earlier today (Thursday, December 22, 2016) and we are reporting both our Current Index and Futures Index as improving.

Buyers and sellers of flat rolled steel are becoming more optimistic regarding their company’s ability to be successful both now, in the current market environment, as well as three to six months into the future. The Steel Market Update (SMU) Steel Buyers Sentiment Index rose +5 points to +70 and our three month moving average for Current Sentiment improved dramatically to +57.00. One year ago our single data point for mid-December was +43 and our three month moving average (3MMA) was +36.50. Our new results can be considered net positives for the steel industry as we move into the New Year.