SMU Data and Models
May 28, 2020
Steel Mill Negotiations: Slightly Tighter, But...
Written by Tim Triplett
Negotiations between producers and buyers of flat rolled and plate steels have continued to tighten following two price increase announcements by the mills in May. However, the majority of buyers responding to Steel Market Update’s canvass of the market this week say the mills are still willing to talk price to secure orders, given the unpredictable outlook for demand.
Steel prices moved up modestly in May. The benchmark price for hot rolled increased from about $460 per ton at the beginning of the month to $500 per ton this week. Mills are more likely to say no these days when it comes to price negotiations.
