SMU Market Trends: Demand's Improving

Steel demand is on the upswing three months after being decimated by government orders to shut down nonessential businesses and stop the spread of COVID-19.

The majority of steel buyers (53 percent) responding to Steel Market update’s market trends questionnaire this past week said they are seeing improvement in demand for their products. Another 38 percent reported that demand is the same/stable. Just 9 percent said they are still seeing declines in demand from their customers—a dramatic turnaround from April when more than 75 percent were suffering from a shocking loss of orders.