Steel Mill Lead Times: Still Shortening

Average lead times for spot orders of steel have shortened in the past month, suggesting that the mills are not as booked as they would like to be at this time of year. Hot rolled lead times now average less than four weeks, cold rolled less than six weeks, and galvanized and Galvalume slightly above six weeks. Lead times for plate have declined from nearly eight weeks at this time last year to just five weeks today, 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.