SMU Survey: Mill willingness to negotiate price at lowest levels since 2021

The majority of steel buyers responding to our latest market survey reported that mills continue to hold a firm grip on prices. The share of buyers reporting that mills were negotiable on price fell this week to the lowest rate seen in more than five years.

Every two weeks, SMU surveys service center and manufacturer buyers asking if mills are willing to negotiate lower prices for new spot sheet and plate orders. In this week’s survey, just 3% of respondents said mills were willing to talk price to secure an order (Figure 1). This is down 11 percentage points from our mid-October survey. It is also the lowest rate we’ve recorded since July 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.