SMU Steel Buyers Sentiment Index: Waiting for Sense of Direction

Steel Market Update’s Steel Buyers Sentiment Index has seen little change since the beginning of the year as the market seeks a sense of direction. While still well within the “optimistic” range, the index has been on a downward trajectory for months. SMU is consistantly seeing both our Current Sentiment Index as well as our Future Sentiment Index at levels below what we were measuring one year ago. In early February 2018 Current and Future Sentiment were heading for a record highs. Again, we want to remind our readers that the indices are still well within the optimistic range and a long, long way from our record low of -85 measured in March 2009.

SMU will be on watch to see if early signs that steel prices have hit bottom and begun to rebound are reflected in more bullish buyers’ sentiment in the coming weeks.