SMU Data and Models
January 6, 2022
SMU Steel Buyers Sentiment: Year Begins with Optimism
Written by Tim Triplett
Steel Buyers Sentiment, as measured by Steel Market Update, saw its highest readings ever in September 2021. Not coincidentally, so did steel prices. In the four months since then, steel prices have softened by some 20%. Industry sentiment has also softened, but to a lesser extent – and it remains well above year-ago levels.
SMU surveys buyers every two weeks and asks how they view their chances of success in the near and longer term. SMU’s Current Sentiment Index has dropped by 11 points, from an all-time high of +84 to the current reading of +73. Future Sentiment, at the current reading of +65, is down 13 points from its high of +78.
