SMU Data and Models
August 9, 2018
Steel Mill Negotiations: Price is in Play
Written by Tim Triplett
Negotiations between steel mills and buyers have loosened considerably as the mills appear significantly more willing to negotiate spot prices than at any other point this year.
Every two weeks, in a proprietary poll, SMU tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. According to respondents to this week’s market trends questionnaire, 69 percent of hot rolled buyers said they have found mills willing to negotiate, up from just 18 percent in July. Just 31 percent said mills remain firm on price.
