SMU Data and Models
April 2, 2020
SMU Steel Buyers Sentiment Index: Confidence Dips into Pessimistic Territory
Written by Tim Triplett
Steel Buyers Sentiment—how steel executives view their prospects for success—has continued to deteriorate as the market struggles with the coronavirus restrictions. Current sentiment dipped into pessimistic territory to a reading of -8 this week, the lowest level since November 2010. It is also the first time we have entered the pessimistic portion of our index since November 2010. Future Sentiment—how buyers feel about their company’s prospects three to six months down the road—was just slightly better and still in the optimistic portion of our index at a reading of +10.
