SMU Survey: Mill negotiability rate remains at lowest level since 2021

The vast majority of steel buyers responding to our latest market survey found mills unwilling to negotiate lower prices for spot tons. This holds true for all the products SMU tracks.

Every two weeks, SMU surveys service center and manufacturer buyers asking if mills are negotiable on new spot sheet and plate orders. In this week’s survey, 9% of respondents said mills were willing to talk price to secure an order (Figure 1). This is the third consecutive survey at that rate. You’d have to go back to September 2021 to find a lower number.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.