SMU Survey: Mill negotiation rate rises, but price still rigid

The overall mill negotiation rate ticked up slightly this week, but the overwhelming majority of buyers are still finding mills inflexible on price, according to our latest survey data.

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, 11% of respondents said mills were willing to talk price to secure an order, up two percentage points from two weeks earlier (Figure 1). While this week’s reading has climbed past 10%, you have to go back to June 10 for it to have broken 20% when it stood at 26%.

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.