Steel Mill Negotiations: Signs of Price Talks Loosening?

Are steel mills willing to negotiate spot prices on new orders in the current market conditions? For the most part mills are holding firm, but there may be some initials signs of a loosening in price negotiations, according to respondents to this week’s Steel Market Update market trends questionnaire.

Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. The latest data shows some mills may be slightly more willing to talk price, especially for large orders. But from a historical perspective, most steel mills continue to negotiate sparingly on hot rolled, cold rolled, galvanized and Galvalume spot pricing.