SMU Survey: Mills slightly more willing to negotiate spot prices

Mills are generally holding firm on new-order spot prices, according to the majority of buyers responding to our steel market survey this week. This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.

Every other week, SMU polls over 1,000 service center and manufacturer buyers to see whether mills are willing to negotiate new spot-order prices. This week, 26% of respondents said mills were willing to talk price to secure an order (Figure 1). This is up five points from our previous survey and the strongest rate recorded since March. Although up this week, mill negotiability remains low by historical standards.

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.