SMU Survey: Mill negotiability falls to multi-year low

Most steel buyers responding to our market survey this week report mills remain firm on new order spot prices. The percentage of buyers reporting mills as negotiable fell to the lowest rate witnessed since September 2021. Negotiation rates remain at or near historic lows across most sheet and plate products.

Every two weeks, SMU surveys an array of service center and manufacturer buyers asking if mills are negotiable on new spot-order prices. This week, 12% of respondents said mills were willing to talk price to secure an order (Figure 1). This is down 14 points from our early June survey, which had marked the strongest reading since March. Overall, mill negotiability has remained historically low since late last 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.