SMU Steel Buyers Sentiment Index: Stable with Some Concerns

Data from Steel Market Update’s latest market trends questionnaire shows current industry sentiment stablizing after a bit of a swoon seen earlier this year due to the uncertainty related to the Section 232 tariffs and surprises regarding exclusions (or lack thereof). From a historical perspective, current sentiment remains at highly optimistic levels, however.

SMU’s Steel Buyers Sentiment Index registered +66 out of a possible +100 this week, up 2 points from early July. Calculated as a three-month moving average (3MMA) to smooth out the data, the index dipped slightly to +66.33, but remained above the low reading of the year of 66.50 recorded in mid-May. The Current Sentiment Index continues to be optimistic, albeit at lower levels than earlier this year, but it has returned to the levels reported one year ago.