Steel Mill Average Lead Times Extending

Flat rolled steel lead times continued to move out (extend) according to those taking our flat rolled steel market trends survey which we began on Friday and concluded earlier today. Lead times are now more than one week longer than year ago levels as steel buyers have entered the market in response to the three price increase announcements that have been made by the flat rolled steel mills since late October.

Hot rolled lead times are now averaging more than 4 weeks (4.18 weeks) which is a significant move compared to the 2.84 week average we reported on the 15th of October. One year ago HRC lead times were just under 3.0 weeks (2.91 weeks).