SMU Steel Buyers Sentiment: Attitudes Improve

Industry sentiment has improved in the past two weeks, as measured by Steel Market Update. SMU’s Steel Buyers Sentiment Indexes took a dip in July but rebounded in the latest check of the market for reasons that are not entirely clear. Respondents bemoan the persistent uncertainty, but business is good in certain sectors.

SMU asks steel buyers how they view their company’s chances for success in the current environment. The Current Sentiment reading this week jumped 16 points to a reading of +50, which takes it near levels at this time last year. Current Sentiment has recovered from a low of -8 in the first week of April, its lowest reading since November 2010, as the coronavirus disrupted the market