Market Data
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.
