Market Data
January 5, 2017
2017 Begins with SMU Steel Buyers Sentiment Index at Record High
Written by John Packard
On a single data basis both our Current Steel Buyers Sentiment Index and Future Sentiment Index are at the record highs for our index. Current Sentiment, which is how buyers and sellers of flat rolled steel feel about their company’s ability to be successful in the existing market environment, came in at +71 this week. This is +1 point from what we saw in the middle of December 2015 and tied with the all-time highs set during mid-April 2015 and again at the beginning of July 2015. One year ago, Current Buyers Sentiment was +44. An explanation of our point system follows at the end of this article.
Looking at Current Sentiment from a three-month-moving average (3MMA), which is our preferred method of tracking the trend, Sentiment rose +4.67 to +61.67. The trend for a more optimistic buying and selling community is now two months old after peaking in early July and then tapering off from there.
