SMU Data and Models
July 11, 2019
Steel Negotiations: Mills Begin to Hold the Line
Written by Tim Triplett
Steel price negotiations have tightened considerably as the mills have begun to hold firm in support of two $40 per ton price increases announced in the past two weeks. Note that Steel Market Update began gathering the data below on Monday, just prior to the latest mill price increase announcements on Tuesday and Wednesday.
In mid-June, nine out of 10 respondents to Steel Market Update’s market trends questionnaire reported that the mills were open to compromise on pricing in order to secure the order for all types of products. Today, depending on the product, from one-third to one-half said the mills have stopped negotiating.
