SMU Survey: Most buyers report mills still willing to talk price

Most steel buyers SMU polled this week reported that mills remain willing to negotiate new order pricing. Negotiation rates have been high for the majority of 2024, recently peaking in late October.

Every two weeks, SMU surveys hundreds of steel market executives. asking whether domestic mills are open to negotiating prices on new spot orders. This week, 85% of our buyers reported that mills were willing to talk price to secure an order (Figure 1). This rate has eased each of the last two surveys, but this week’s is still one of the higher levels recorded in the past year.

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.