Steel Mill Negotiations: Sensing a Shift

Negotiations between steel mills and buyers may have turned a corner as the mills appear significantly more willing to negotiate spot prices than at any other point this year.

“We’re sensing that some of the steel mills have holes in their August order book for hot rolled coil,” one steel pipe executive told Steel Market Update. “Not long ago, the mills had limited tons on the spot market. Now they are open to negotiations within a very limited range.”