SMU Survey: Mills hold their grip on prices, buyers say

The majority of sheet and plate buyers responding to our market survey this week continue to report that mills are not willing to negotiate on new order spot prices. Recall that price flexibility began to fade late last year and mills tightened their grip in almost every survey since. The latest data suggests mill negotiability is at one of the lowest rates measured in over a year.

Every other week, SMU polls over a thousand service center and manufacturer buyers asking if mills are negotiable on new spot order pricing. Just 19% of this week’s respondents said mills were willing to talk price to secure an order (Figure 1). This is eight points lower than our previous survey and marks the lowest negotiability rate recorded since early March 2025.

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.