Market Data
March 19, 2026
SMU Survey: Mills hold firm on prices, most buyers say
Written by Brett Linton
Domestic mills continue to hold a firm grip on sheet and plate prices, according to the majority of steel buyers responding to our market survey this week. Mills became less willing to negotiate on spot order prices in November and tightened their grip at the start of this year.
Every two weeks, SMU polls over 1,000 service center and manufacturer buyers to see whether mills are willing to negotiate pricing on new spot orders. Just over a quarter of this week’s respondents (27%) said mills were willing to talk price to secure an order (Figure 1). This is four points higher than our previous survey, which was the lowest rate recorded in nearly a year.
Coated products slightly more negotiable, plate the least
Three of the five products we track saw higher negotiation rates this week, while two moved lower (Figure 2). Current rates are:
- Hot rolled: 21% of buyers said mills are negotiable on price. This is up eight percentage points from the one-year low seen two weeks ago.
- Cold rolled: up seven points to 27%, the second-highest rate seen this year.
- Galvanized: down 10 points to a 10-week low of 36%.
- Galvalume: up 10 points to 41%, the most negotiable of our five products.
- Plate: down seven points to 13%, the lowest measure recorded in nearly three years.
Buyer remarks:
“Hot rolled remains tight.”
“Just not seeing enough [hot rolled] available to really be able to negotiate a better price.”
“Minimal availability on hot rolled and galvanized.”
Note: SMU surveys active steel buyers every other week to gauge their steel suppliers’ willingness to negotiate new order prices. The results reflect current steel demand and changing spot pricing trends. Premium members can view an interactive history of our steel mill negotiations data on our website.
