SMU Data and Models
March 7, 2021
SMU Steel Buyers Sentiment: Cautiously Positive
Written by Tim Triplett
Steel Buyers Sentiment, as measured by Steel Market Update, has seen little change since the beginning of February, recording a very optimistic reading of +69 this week. Future Sentiment moved up four points to a nearly as bullish +67. Both Current and Future Sentiment now exceed pre-pandemic levels and suggest that the market is hopeful about the year ahead.
Measured as a three-month moving average (3MMA), Current Sentiment hit +65.83, while the Future Sentiment 3MMA moved up to +61.00—both well above average. For comparison, the record high 3MMAs were around +74 in the spring of 2017; the record lows were about +40 in the fall of 2019.
