In steel coil procurement, lock price and agreement are two commonly used terms, with specific meanings as follows: 1. Lock price: refers to the price determined by the buyer and the seller before the transaction. The price may change according to a certain index, but the buyer can use lock price to ensure cost control and avoid the increase of procurement cost caused by price fluctuation. 2. Agreement: refers to the agreement and contract between the buyer and the supplier. The agreement will generally stipulate the terms and details such as delivery time, quantity, quality standard and price. Both the buyer and the seller have certain responsibilities and obligations in the agreement, and should abide by the contents of the agreement in the process of cooperation. In the actual procurement process, the locked price and agreement can be handled flexibly according to the needs of both the supplier and the buyer, but in any case, determining a good locked price and agreement plays a very important role in the procurement process, which can ensure the procurement cost and delivery quality.