SMU Data and Models
October 29, 2020
Steel Mill Negotiations: Mills in Control
Written by Tim Triplett
Mills continue to control negotiations over hot rolled, cold rolled and coated steel orders as they seek to collect higher prices in a market characterized by extended lead times and tight supplies.
About 86 percent of the hot rolled steel buyers responding to Steel Market Update’s market trends questionnaire this week said the mills are unwilling to deal on hot rolled. That’s up four points from 82 percent two weeks ago. Only 14 percent said the mills are now willing to bargain to secure an HR order.
