SMU Survey: Mills maintain grip on sheet and plate prices

The majority of steel buyers who responded to our market survey this week reported that mills remain firm on new order spot prices. This is a continuation of the trend seen since January. This week, negotiation rates remained low across all products, though coated and plate products were slightly more negotiable than hot rolled and cold rolled.

Every two weeks, SMU polls over 1,000 service center and manufacturer buyers to see whether mills are willing to negotiate on new spot-order pricing. This week, 21% of respondents said mills were willing to talk price to secure an order (Figure 1). This is up by one percentage point from our previous survey, but it is one of the lower rates seen over the past year.

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.