SMU Data and Models
November 16, 2017
SMU Survey: Mills Negotiate Right Up to Price Announcements
Written by Tim Triplett
Buyers of flat rolled steel report that most domestic steel mills are open to negotiating spot prices, especially on cold rolled and coated products, even though the major mills announced price hikes this week.
About half of the respondents to this week’s Steel Market Update market trends questionnaire reported a mixed market, with some mills firmer than others when it comes to negotiating price. About 42 percent said mill order books are weaker than advertised and suppliers are willing to talk price. Only 8 percent described mill pricing as firm. Note that most buyers responded to SMU’s questionnaire on Monday and Tuesday, before the mill price announcements on Wednesday.
