SMU Key Indicators Somewhat Improved, Outlook Subdued

Monthly Key Market Indicators (KMI) have steadily improved since reaching their most recent low in July, though steel buyer sentiment recently tumbled to a 26-month low, according to the latest analysis by Steel Market Update. Positive and neutral indicators have increased, while negatives have eased.

Despite some recent improvements, present headwinds are still notable. The economy has shown some continued signs of strength. Consumer confidence has improved, driven by surprise gains in GDP and employment totals. More recently, the Fed is reportedly going to slow rate hikes in its battle to tame inflation. But that’s because there’s enough pain in the market after benchmark lending rates have been driven up by four percentage points in just nine months.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.