SMU survey: Mills’ flexibility on prices up slightly

Steel buyers found mills slightly more willing to negotiate spot prices this week, according to our most recent survey data. Though this negotiation rate has ticked up vs. our previous market check, overall rates have been trending downward since July’s highs.

Every other week, SMU polls hundreds of steel market executives asking if domestic mills are willing to negotiate lower spot pricing on new orders. As shown in Figure 1, 77% of all buyers we surveyed reported that mills were willing to talk price on new orders this week. This is two percentage points higher than our previous rate, but down from the 80-92% range seen across July.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.