Steel Mill Lead Times: Shorter...Even for Plate

Mill lead times for spot orders of flat rolled steel continued to shrink this month. Even plate, which has been in short supply, is showing signs of loosening with its average lead time dipping to less than six weeks from more than seven weeks at the beginning of January.

Lead times for steel delivery are a measure of demand at the mill level. The shorter the lead time, the less busy the mills. The less busy the mills, the more likely they are to negotiate on price. At less than three and a half weeks for hot rolled, around five and a half weeks for cold rolled, and less than six weeks for coated products, average lead times have not been this short since fall 2017.