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%).
