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    Prices

    January 5, 2023

    Steel Mills Continue to Balk at Negotiating Lower Tags

    Steel mills are less willing to negotiate prices as we enter into the new year. With the exception of Galvalume, all of the products SMU surveyed remained more fixed in price compared with the last market check two weeks ago, and a far cry from early November of last year. 

    In fact, the plate market showed the largest decline, where 50% of buyers said mills were willing to negotiate price in our survey this week ended Jan. 5, down from 75% two weeks earlier.

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    Leibowitz: US steel prices skyrocket above world prices. Which are right?

    Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.