SMU Data and Models
July 9, 2020
Steel Mill Negotiations: It's a Buyer's Market
Written by Tim Triplett
The vast majority of steel buyers responding to Steel Market Update’s market trends questionnaire this week report that mills are willing to compromise on price to win orders as the economy and steel demand continue to battle the effects of the coronavirus crisis.
About 86 percent of hot rolled buyers said the mills are open to negotiation, while just 14 percent said the mills are standing firm on HR prices. That’s up 4 points from two weeks ago and up 16 points from this time last month.
