Market Data
August 21, 2026
SMU Survey: Steel buyers remain highly optimistic
Written by Brett Linton
Steel buyers remained strongly confident in their companies’ prospects today and in the coming months, according to SMU’s latest market survey. Both of our Steel Buyers’ Sentiment Indices are holding near multi-year highs and have been historically strong for several months.
Every two weeks, SMU polls thousands of steel-industry executives asking them to rate their companies’ chances of success today and also three to six months down the road. Their responses are used to calculate our proprietary Current and Future Steel Buyers’ Sentiment Indices, measures tracked since 2008.
Current Sentiment
The Current Sentiment Index eased four points this week to +68, previously at one of the higher levels seen in the last three years (Figure 1). Sentiment has remained at historically strong levels since April and is substantially higher than it was this time last year (+28).
Future Sentiment
Our Future Sentiment Index increased by one point to +69 this week, just two points shy of the 18-month high of +71 recorded in July (Figure 2). This index has strengthened since March, only declining in two surveys over that period. A year ago, Future Sentiment registered +51.
What respondents are saying:
“[Excellent current outlook and good future outlook] All signs are pointing to us having a great year and it will continue for the foreseeable future. We sure seem to have a good track record, and as long as this market remains so strong, I see us being successful with our business model.”
“[Good current and future outlooks] Strong demand for flat products and signs of recovery in long products support a positive outlook. We expect demand to remain healthy through the end of 2026, supporting a positive outlook for the coming months.”
“[Good current outlook and fair future outlook] We are doing extremely well in this current market, but not sure how long this will hold.”
“[Good current and future outlooks] Things would be ‘Excellent’ if steel pricing was anywhere close to historical norms.”
“[Good current and future outlooks] We like the domestic focus, brings more steel to store at our facility.”
Sentiment trends
To better highlight trends, Sentiment Indices can be analyzed on a three-month moving average (3MMA) basis to smooth short-term variations. On this basis, both indices are at or close to their strongest levels in over a year.
The Current Sentiment 3MMA registered +67.69 this week, marginally below the three-year high of +68.61 recorded in late June (Figure 3, left). The Future Sentiment 3MMA rose for the 11th consecutive survey to an 18-month high of +68.52 (Figure 3, right).
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. View our methodology here. If you would like to be included in our market surveys, please contact us at smu@crugroup.com.
