SMU Data and Models
November 15, 2020
SMU Steel Buyers Sentiment: Optimism Not So Surprising
Written by Tim Triplett
Industry sentiment, which was already at surprisingly optimistic levels, moved even higher in the past two weeks as steel prices continued to rise and the nation picked a new president.
Every two weeks, SMU asks steel buyers how they view their company’s chances for success in the current environment as well as three to six months in the future. The Current Sentiment Index inched up by an additional two points to +63. At this time last year, prior to the COVID pandemic, the Current Sentiment reading was +47. Current Sentiment has rebounded by 71 points since hitting a low of -8 in the first week of April when the virus first derailed the economy.
