SMU Steel Buyers Sentiment Index Taps the Brakes

Steel Market Update’s (SMU) Steel Buyers Sentiment Index saw double-digit declines last week, falling to the second-lowest level seen in the past two years. Our Future Steel Buyers Sentiment Index also declined, now tied for the third-lowest reading in that same time frame. Buyers attribute their weaking optimism to profitability concerns on high-cost inventory as well as demand slowdowns and recession fears.

SMU polls hundreds of steel buyers every other week, asking how they view their chances of success in the current market, as well as three to six months down the road.