SMU Survey: Mill negotiability rate falls to multi-year low

Most steel buyers who responded to our market survey this week reported that mills are holding a firm grip on sheet and plate prices. The share of buyers reporting that mills were negotiable fell to the lowest rate seen in almost five years. Negotiation rates for three sheet products are down to multi-year lows.

Every other week, SMU surveys an array of service center and manufacturer buyers to ask whether mills are negotiable on new spot sheet and plate orders. In this week’s survey, only 9% of respondents said mills were willing to talk price to secure an order (Figure 1). This is down four percentage points from our early August survey and marks the lowest rate 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.