SMU Steel Buyers Sentiment: Year Ends with Bullish Outlook

Steel Buyers Sentiment, as measured by Steel Market Update, has not reacted much to declining steel prices. Perhaps because prices remain well above historical averages even after big declines – more than 18% when it comes to hot-rolled coil – over the past three months. Indeed, 2021 was a record year for many companies, leaving most buyers with a bullish outlook on the year ahead.

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 +72, down three points over the past two weeks, but still just 12 points away from the all-time high of +84 registered in early September.