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    Market Data

    November 9, 2023

    SMU Survey: Mills Less Willing to Talk Price on Sheet, More Willing on Plate

    Written by Ethan Bernard

    The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate’s negotiation rate shot up, according to SMU’s most recent survey data.

    The negotiation rate for steel plate rose 30 percentage points from two weeks ago to 100% of surveyed buyers saying mills were open to discussing lower spot prices. However, hot rolled’s rate declined 14 percentage points to 33%, and cold rolled’s fell 25 percentage points to 19% in the same comparison.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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