Steel Mill Negotiations: Talks Loosen

Mills appear more willing to negotiate spot prices on most flat rolled steel products than at any other point this year. Twice per month, in a proprietary poll, Steel Market Update tracks how buyers and sellers of flat rolled steel represent the mill negotiation position. According to respondents to this week’s market trends questionnaire, 71 percent of hot rolled buyers said they have found mills willing to negotiate, up from 43 percent a month ago. Just 29 percent said mills remain firm on price.

In the cold rolled segment, 67 percent said they have found some mills willing to talk price, up from 58 percent in mid-July. About 33 percent of respondents reported current mill prices on cold rolled as non-negotiable.