SMU Data and Models
September 3, 2020
Steel Mill Negotiations: No Longer a Buyer's Market
Written by Tim Triplett
Flat rolled steel is no longer a buyer’s market as the mills appear less willing to negotiate while they try to collect the price increases they announced late last month. Steel Market Update’s market trends questionnaire this week shows the majority of buyers reporting mills holding the line in price talks on hot rolled, cold rolled and coated steel orders.
About 61 percent of the hot rolled steel buyers responding to SMU’s poll this week said the mills are no longer willing to deal on HR. That’s up from 40 percent two weeks ago. About 39 percent said the mills are still willing to bargain to secure an order.
