SMU Data and Models
July 24, 2014
Steel Mills Becoming Less Likely to Negotiate Steel Prices
Written by John Packard
One of the most popular items produced out of our twice monthly flat rolled steel surveys is our Mill Negotiations data. We ask active buyers and sellers of steel how willing are domestic steel mills to negotiate pricing by product at this point in time. What our most recent survey results are telling us is the domestic mills are becoming more firm in the negotiation process than they were in June and earlier this month.
Of the hot rolled buyers, only 50 percent reported the domestic steel mills as willing to negotiate. This is down from 70 percent at the beginning of July and 92 percent recorded during the middle of the month of June.
