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    April 19, 2022

    SMU Steel Buyers Sentiment Index Remains Strong

    Written by Brett Linton

    Steel Market Update’s Steel Buyers Sentiment Index moved 4 points lower this week, following a 3-point bump up two weeks prior and an 11 point surge in mid-March. Theses sentiment measures correlate with the sharp rebound in steel prices caused by the Ukraine-Russia war, as well as the recent slowdown seen in prices.

    Steel Market Update’s latest benchmark price for hot rolled coil was $1,450 per ton ($72.50 per cwt) as of last Tuesday, up $15 over two weeks prior, and up from $1,000 per ton in early March. The spread between current and future sentiment now suggests that buyers feel positive about the current market as well as 3-6 months ahead, despite lingering effects of war, inflation and supply-chain issues.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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