SMU Data and Models
February 5, 2021
SMU Steel Buyers Sentiment: Feeling Good About the Future
Written by Tim Triplett
Steel buyers are feeling good about their prospects later this year, as this week’s Steel Market Update Future Sentiment Index saw its highest reading in more than two years at +66, a 13-point jump over the past two weeks. Current Sentiment, which saw a small, four-point bump to +68, is equally optimistic.
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. Whether it’s the record-high steel prices, the change of administration in Washington, the surprisingly strong economy, the progress being made against the spread of COVID-19 or some combination of the above, most buyers are feeling positive about the market—even though steel prices are expected to peak soon.
