SMU Data and Models
UAW Strike Hasn't Dampened SMU Buyers Sentiment Indices
Written by Ethan Bernard
September 29, 2023
SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week despite the United Auto Workers (UAW) union strike expansion, based on our most recent survey data.
Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.

SMU’s Current Buyers Sentiment Index stood at +61 this week, up five points from two weeks prior (Figure 1). Although the UAW strike has been expanding, and shows no sign of ending soon, this hasn’t impacted steel buyers’ bullishness on current market conditions.
SMU’s Future Buyers Sentiment Index measures buyers’ feelings about business conditions three to six months in the future. This week, the index increased to +74 from +71 at the previous market check (Figure 2). This is the highest reading recorded since early March.

Measured as a three-month moving average, the Current Sentiment 3MMA dipped to +58.83 vs. +59.33 two weeks earlier. (Figure 3).

This week’s Future Sentiment 3MMA increased to +67.83 from +65.67 two weeks prior (Figure 4).

What SMU Respondents Had to Say:
“Current market pricing is below cost.”
“We will (be successful in today’s market), but we love low HRC pricing, so that probably isn’t a fair answer.”
“Will move to ‘Good’ once auto strike is over.”
“We hope to continue with the demand for the projects promoted by the federal government in Mexico.”
“We expect a higher more sustainable sales price in 2024.”
About the SMU Steel Buyers Sentiment Index
The SMU Steel Buyers Sentiment Index measures the attitude of buyers and sellers of flat-rolled steel products in North America. It is a proprietary product developed by Steel Market Update for the North American steel industry. Tracking steel buyers’ sentiment is helpful in predicting their future behavior.
Positive readings run from +10 to +100. A positive reading means the meter on the right-hand side of our home page will fall in the green area indicating optimistic sentiment. Negative readings run from -10 to -100. They result in the meter on our homepage trending into the red, indicating pessimistic sentiment. A reading of “0” (+/- 10) indicates a neutral sentiment (or slightly optimistic or pessimistic), which is most likely an indicator of a shift occurring in the marketplace. Sentiment is measured via SMU surveys twice per month.

Ethan Bernard
Read more from Ethan BernardLatest in SMU Data and Models

SMU Scrap Survey: Current and Future Sentiment tick down
SMU’s Current Sentiment Index for scrap decreased this month, a move mirrored by our Future Sentiment Index, according to the latest data from our ferrous scrap survey.

SMU Survey: Buyers’ Sentiment slips again, future outlook improves
Each of our Sentiment Indices continues to reflect that steel buyers are positive about their present and future business prospects, though that confidence has eased considerably compared to the beginning of the year.

SMU scrap market survey results now available
SMU’s October ferrous scrap market survey results are now available on our website to all premium members.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU Survey: Sheet and plate lead times stabilize
Sheet and plate lead times saw minor shifts this week, according to SMU’s latest market survey. Sheet times have inched up over the last month but remain within days of multi-year lows, as they have since May. Plate lead times have bobbed within a tight range for months, hovering roughly a week longer than this time last year.