Steel Industry Optimism Index - SIOI - sector outlook.
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Steel Optimism Index - Last 60 Days - SIOI

Steel Industry Outlook


Steel Industry Optimism Index

Values of the Steel Industry Optimism Index are shown
for the last 60 days. Index values above 50 indicate
overall optimism; those below 50 suggest caution.



SIOI SENTIMENT SUMMARY

SIOI today: 50
Level of optimism / pessimism = Near to average
SIOI volatility = Low
SIOI trend = Outlook trend is broadly neutral



The Steel Industry Optimism Index [abbreviated the 'SIOI'] is a measure on a scale of 0 to 100 of the balance of optimism of recent articles in the international iron and steel industry press.

Articles displayed on the Steelonthenet.com website are scanned for ~100 selected positive and negative keywords. These keywords include terms such as 'profit', 'growth' and 'investment' on the one hand; or 'loss', 'decline' and 'collapse' on the other. A total is recorded each day of the number of recent articles expressing a positive or negative sentiment, as judged by use of the selected keywords. The SIOI measures the overall positive or negative orientation of recent news reports.

An SIOI value of ~50 is neutral [i.e. the number of articles containing positive keywords equals the number of articles with negative keywords]. Index values of 51-100 indicate an overall positive sentiment (with a score of 100 indicating extreme optimism). Values of 0-49 indicate an overall negative sentiment (with zero indicating extreme pessimism).

If the SIOI is on a rising trend, industry news is increasingly bullish or positive and industry optimism is indicated. Where the SIOI is falling over time, the outlook for the steel sector can be interpreted as being increasingly bearish or negative and there is perhaps cause for pessimism or caution. [180 day charts are available for a small charge. Please visit our online store or contact our support team.]


The Steelonthenet.com steel industry optimism index is similar in principle to other indices such as the Ipsos MORI Economic Optimism Index or the Bloomberg Small Business Optimism Index, but of course relates to the steel sector alone. The approach in calculating the SIOI is moreover underpinned solely by text analytics to categorize industry sentiment, in a manner that is not dissimilar to that recently applied by NetBase to analyse trends in social media chatter. For further information about text mining for advanced business intelligence, see TheInternetTimeMachine.com.




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