SMU Survey: Mill negotiability slips, sheet hits multi-year lows

The majority of steel buyers responding to our market survey this week report that mills are holding a firm grip on prices. The share of buyers reporting that mills were willing to negotiate fell to the lowest rate seen in nearly five years. Negotiation rates remain at or near historic lows across all of the sheet and plate products we track.

Every other week, SMU surveys an array of service center and manufacturer buyers asking whether mills are negotiable on new spot-order prices for sheet and plate products. In our latest survey, just 10% of overall respondents said mills were willing to talk price to secure an order (Figure 1). This is down eight percentage points from our early July survey and marks the lowest measure recorded since September 2021.

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.