SMU Survey: Mills less willing to negotiate on prices

Almost two-thirds of the steel buyers responding to our latest market survey reported that domestic mills were flexible on new order prices this week. Negotiation rates have declined in each of our last two surveys; this week’s rate is the lowest recorded since March 2024.

Every other week, SMU polls buyers asking if domestic mills are willing to negotiate lower spot pricing on new orders. As shown in Figure 1, 68% of the participants surveyed this week reported mills were willing to talk price on new orders. This is five percentage points lower than our previous survey. In comparison, the rates witnessed from last October through early January were much higher, ranging from 81% to 93%.

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.