SMU Data and Models
June 25, 2021
SMU Steel Buyers Sentiment: Bouncing Along the Top
Written by Tim Triplett
Steel buyers’ sentiment, as measured by Steel Market Update, remains extremely optimistic, and hasn’t seen a change of any real significance in the past three months. Current Sentiment has averaged a reading of +75 and Future Sentiment an average of +65, plus or minus a few points, since late April as the market enjoys the rush of record-high steel prices and profits.
SMU asks steel buyers every two weeks how they view their company’s chances for success in the current environment and how they view their prospects three to six months in the future. SMU’s Current Sentiment Index of +75 and Future Sentiment Index of +68 this week show the huge recovery from this time last year when the respective sentiment readings were a lowly +42 and +52 with the market in the grips of the COVID pandemic.
