SMU Data and Models
November 29, 2021
Buyers Say Contract Talks More Adversarial Than Usual
Written by Tim Triplett
With steel prices trending downward as 2021 comes to a close, there is a different tone to annual contract negotiations, respondents to Steel Market Update’s market trends questionnaire said. Talks are more contentious, reported many buyers, as mills seek to lock in volume near current prices for 2022, while service centers and OEMs are reluctant to sign a deal today when steel will likely be cheaper tomorrow.
SMU asked: How do contract negotiations differ this year versus last year?
