Steel Mill Lead Times: Slightly Shorter

Average lead times for spot orders of steel, including all types of products, have shortened slightly in the past two weeks. Hot rolled lead times now average around four weeks, cold rolled and Galvalume around six weeks, and galvanized down to nearly six and a half weeks. Lead times for plate are now less than six weeks, according to Steel Market Update data.

Lead times for steel delivery are a measure of demand at the mill level. The shorter the lead time, the less busy the mill and the more likely they are to negotiate on price. (The latest SMU data shows that most mills are open to price negotiations in the current environment; see related story in this issue.)