Market Data
November 7, 2024
SMU Survey: Mills remain flexible on sheet and plate prices
Written by Brett Linton
Most steel buyers polled in our market poll this week continue to report mills are open to negotiation on new order pricing. In fact, negotiation rates have been strong for the majority of 2024, trending higher since September.
Every other week, SMU surveys hundreds of steel market executives asking if domestic mills are willing to talk price on new spot orders. In this week’s poll, 88% of all buyers reported that mills were willing to negotiate to secure a new order (Figure 1). This is one of the higher rates recorded so far this year. Recall that in late October, we saw the highest negotiation rate recorded in our near-four-year history, 93%.
