SMU Data and Models
August 20, 2021
SMU Steel Buyers Sentiment: Post-Conference Pop?
Written by Tim Triplett
Steel Buyers Sentiment, as measured by Steel Market Update, has never been higher despite concerns over the latest COVID variant and signs that the rate of rise in steel prices is beginning to slow. SMU’s Current Sentiment Index registered a new all-time high of +84 this week – the first time the index has broken into the eighties – while the Future Sentiment Index hit +75, just two points below its record high of +77 seen in February 2018.
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. The high level of optimism is somewhat surprising given the various uncertainties the market is facing.
