SMU Survey: Most buyers still report high mill negotiation rates

Steel buyers say mills remain slightly more willing to negotiate spot prices for sheet and plate products than they were mid-September, according to our latest market survey.

SMU polls hundreds of steel buyers at service centers and manufacturing companies every other week to see if domestic mills are willing to negotiate prices for new spot orders. This week, 84% of respondents said mills were open to talking price to secure an order. This is up three points from our previous survey, which had marked the lowest rate since June (Figure 1).

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.