SMU Data and Models
November 1, 2020
SMU Steel Buyers Sentiment: Better Than Before the Pandemic
Written by Tim Triplett
Industry sentiment has rebounded to levels exceeding those seen prior to the pandemic, and steel executives polled by Steel Market Update this week have a fairly optimistic outlook on their future as well despite concerns about a second wave of COVID-19.
Every two weeks, SMU asks steel buyers how they view their company’s chances for success in the current environment. The Current Sentiment reading has dipped by seven points since mid-October, but remains at an optimistic +61. For comparison, the average sentiment reading in the 12 months prior to the pandemic was +48. At this time last year, SMU’s Sentiment Index reading was +41. Current Sentiment has rebounded by 69 points since hitting a low of -8 in the first week of April as the virus shut down much of the economy.
