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    Analysis

    January 9, 2025

    SMU Survey: Most buyers still report mills are flexible on prices

    Written by Brett Linton

    Steel buyers say mills remain open to negotiation on sheet and plate spot prices this week, slightly more so than in mid-December, according to our most recent survey results. Recall that negotiation rates were high for the majority of 2024, especially in the second half of the year.

    SMU polls hundreds of service center and manufacturer buyers every two weeks asking if domestic mills are flexible on new spot order prices. This week, 85% of the buyers we surveyed reported that mills would talk price to secure a new order (Figure 1). This rate has remained in the 80-90% range since November, following the multi-year high of 93% seen in October. This time last year we saw much lower negotiation rates (44-56%).

    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.

    Read more from Brett Linton

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