SMU Data and Models
October 28, 2021
Steel Mill Negotiations: Now a 50-50 Proposition in HR
Written by Tim Triplett
Steel Market Update data suggests buyers continue to gain some leverage in price negotiations. SMU asks buyers every two weeks if the mills are willing to talk price on spot orders. Around 50% of hot rolled buyers responding to this week’s poll said some mills are now willing to bargain to secure an order. That’s double the 24% just a month ago.
The mills maintain a tighter grip on negotiations in the other product categories. About 81% of cold rolled buyers, 70% of galvanized buyers, 60% of Galvalume buyers and 92% of plate buyers say the mills are still unwilling to negotiate as demand for their products remains strong.
