SMU Analysis: Key Market Indicators Still Mostly Positive

This is Steel Market Update’s first Key Market Indicators report since April as we have renegotiated some data supply contracts and made a few changes to the content. The report still summarizes 36 data streams that we believe critically describe the state of the steel market and provide forward guidance to steel buyers. Data released in November shows that 23 of the 36 indicators are historically positive with only five negative. The balance is within the band of historically normal. Trends took a step back since April, falling from 26 positive to 23 positive in November. Trends lead the present situation by about four months.

See the end of this piece for an explanation of the Key Indicators concept. This will explain the difference between our view of the present situation, which is subjective, and our analysis of trends, which is based on the latest facts available.