SMU Data and Models
October 4, 2020
SMU Steel Buyers Sentiment: Stable at Healthy Levels
Written by Tim Triplett
Industry sentiment, as measured by Steel Market Update, has seen little change in the past month, but has stabilized at relatively healthy levels.
Every two weeks, SMU asks steel buyers how they view their company’s chances for success in the current environment. The Current Sentiment reading was unchanged at +56 this week. Compared with the first week of August, that’s up 22 points. Compared with the first week of April, when the coronavirus effect was at its worst at a reading of -8, that’s a 64-point improvement. Current sentiment today is much healthier than at this time last year when it registered a weak +26. Last October, market conditions had forced the hot rolled steel price below $500 per ton.
