Market Data
June 9, 2022
Mill Willingness To Negotiate on Prices Remains High
Written by Brett Linton
Three out of four buyers report that mills are willing to talk price to secure an order, according to executives polled in our latest steel market survey. Mills’ willingness to negotiate has remained over 50% in each of our market checks over the last four weeks.
Every other week, SMU asks survey respondents: Are you finding domestic mills are willing to negotiate spot pricing on new orders? On average this week, 74% of steel buyers report that mills were willing to negotiate lower prices on new orders, down from 81% when we polled the market two weeks prior. While that figure is down compared to late May, recall we saw negotiation rates of only 16-35% in March and April.
