SMU Steel Buyers Sentiment: Optimism Remains High

As expected, Steel Buyers Sentiment declined over the past two weeks from record highs registered in early September shortly after Steel Market Update’s annual Steel Summit. The previous results were no doubt influenced by the conference, making the six-point change since then more of a correction than a decline.

The takeaway from the current index reading +78 is that sentiment has seen little change in the past six months. Despite concerns over COVID, buyers remain extremely optimistic about their chances for success given the current market conditions. With lead times and prices starting to turn, however, SMU will be keeping a close watch to see if sentiment follows suit.