Steel Mill Negotiations: Firm Grip Remains, Potential Signs of Loosening

The firm grip mills have held on price negotiations remains but may be softening, according to buyers polled in our latest market survey. 

Every two weeks, SMU asks respondents: Are you finding domestic mills willing to negotiate spot pricing on new orders placed this week? On average this week, three out of four steel buyers reported that mills are not willing to negotiate lower on new orders. While high, that rate is down compared to our late March survey, when 84% of buyers reported mills were non-negotiable. Multiple buyers commented that in the near future, they expect mills will begin to budge more on price to secure new orders.