SMU Data and Models
October 14, 2021
SMU Steel Buyers Sentiment: Optimism Belies Price Declines
Written by Tim Triplett
Sentiment among steel buyers tends to mirror steel prices. The higher the steel price, the higher the spirits of service center and manufacturing executives and the more optimistic they feel about their prospects. Steel Market Update data shows that the record-high steel prices of the past year have begun to moderate. But Steel Buyers Sentiment has not followed suit, at least not yet.
SMU polls buyers every two weeks and asks how they view their chances of success in the near and longer term. SMU’s Current Buyers Sentiment Index was unchanged this week at a reading of +83, just one point below its all-time high set on Sept. 2.
