SMU Data and Models
October 27, 2019
Steel Mill Negotiations: Hint of Tightening?
Written by Tim Triplett
Steel Market Update’s negotiations data showed just a hint of tightening in price talks between the mills and their customers this past week, perhaps in anticipation of the $40 price increase on flat rolled steel announced by the mills on Thursday and Friday. The data, gathered by SMU prior to the price increase announcements, shows a slightly higher percentage of respondents reporting mills holding firm on prices.
Nevertheless, more than nine out of 10 steel buyers still said the mills were willing to negotiate spot prices on hot rolled and cold rolled steel products to secure the orders. The percentage is almost as high for coated products and plate.
