SMU Data and Models
August 5, 2022
SMU Steel Buyers Sentiment Index Unexpectedly Bounces Back
Written by Brett Linton
Steel Market Update’s Steel Buyers Sentiment Index bounced back from its mid-July dip and is now at the highest level since early June. Our Future Sentiment Index also significantly recovered compared to our previous survey and is now at an eight-week high.
SMU surveys steel buyers every other week, asking how they view their chances of success in the market today and also a few months down the road. SMU’s Buyers Sentiment Index registered +66 this week, surging 23 points from two weeks prior and up six points from one month ago (Figure 1). In mid-July, Sentiment declined by 17 points to +43. It had not been that low since August 2020. Our Buyers Sentiment Index peaked at +82 in late March.
