SMU Survey: Overall mill negotiation rate at highest point on record

More than nine out of every 10 steel buyers polled by SMU this week reported that mills are flexible on prices for new orders. Negotiation rates have been strong since April and on the rise since early September.

SMU polls hundreds of steel market executives every two weeks, asking if domestic mills are willing to negotiate prices on new spot orders. As shown in Figure 1, 93% of all buyers surveyed this week reported that mills were willing to talk price. This is the highest overall negotiation rate recorded since we started tracking this measure in early 2021, surpassing the early July high of 92%.

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.