Analysis
February 19, 2026
SMU Survey: Mills continue to hold firm on prices, most buyers say
Written by Brett Linton
Just one of every four steel buyers who responded to our market survey this week said domestic mills are negotiable on new spot order pricing. Since late 2025, mills have begun to hold a firmer stance on prices, tightening their grip at the start of this year and holding on since.
Every two weeks, SMU polls over a thousand service center and manufacturer buyers asking if domestic mills are negotiable on new spot order prices. This week, 28% of respondents said mills were willing to talk price to secure an order (Figure 1). This is five points lower than our prior survey, now tied with the nine-month low recorded in early January.
