SMU Data and Models
November 23, 2021
SMU Steel Buyers Sentiment: Optimism Follows Prices Down
Written by Tim Triplett
Steel Buyers Sentiment saw a notable dip this week, as did steel prices. Industry sentiment tends to track with steel price tags – the stronger the prices, the more optimistic service center and OEM executives who respond to SMU’s surveys. While sentiment remains near record levels, the downtrend suggests optimism, like prices, may have peaked.
SMU surveys 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 registered +73, down five points over the past two weeks. The all-time high was +84 in early September.
