SMU Data and Models
August 6, 2020
Steel Mill Negotiations: Buyers in Strong Position
Written by Tim Triplett
Steel buyers maintain their strong position in price negotiations with steel makers as demand slowly recovers from the coronavirus. The vast majority of those responding to Steel Market Update’s questionnaire this week report that the mills are willing to compromise on price to win orders.
Nearly all the hot rolled buyers (91 percent) said the mills are open to price talks, while just 9 percent said the mills are standing firm on HR prices. That’s roughly the same percentage as two weeks ago.
