SMU Data and Models
Steel Mill Negotiations: Still Talking...
Written by John Packard
July 10, 2014
Buyers and sellers of flat rolled steel responding to this week’s Steel Market Update survey reported steel mills as continuing to be receptive to negotiating flat rolled steel prices. However, we are seeing a moderation in the numbers as only 70 percent reported hot rolled coil (HRC) prices as negotiable compared to 92 percent just three weeks ago.
We also saw a moderation in the cold rolled numbers as 57 percent reported prices as negotiable vs. the 75 percent measured in mid-June 2014.
Galvanized dropped from 83 percent to 74 percent and Galvalume 83 percent to 67 percent.
We have seen steel prices moderating this week as our HRC average remained at $660 per ton, cold rolled at $785 per ton (no change) and both our galvanized and Galvalume averages increased by $5 per ton compared to one week ago.
John Packard
Read more from John PackardLatest in SMU Data and Models
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: Current Sentiment sinks to lowest level since May 2020
SMU’s Steel Buyers’ Sentiment Indices both fell this week, with Current Steel Buyers’ Sentiment notching the lowest reading since May 2020.
Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.
SMU Survey: Lead times remain short
Steel mill lead times ticked lower across most sheet and plate products this week, according to responses from SMU’s latest market check.
SMU Survey: Mills more negotiable on spot orders
Mills are more willing to negotiate spot prices for both sheet and plate products, according to our latest market survey results.