Steel Mill Lead Times: Extend by a Week

Lead times for spot orders of flat rolled and plate steels have extended by about a week over the past month as demand continues to recover and buying picks up ahead of rising prices. Lead times for hot rolled now average nearly five weeks and coated products more than seven weeks. Lead times are an indicator of steel demand—longer lead times indicate the mills have more orders to process and less likely to negotiate on prices.

According to Steel Market Update’s check of the market this week, hot rolled lead times now average 4.97 weeks, up from 4.21 weeks in late August. HR lead times are 1.72 weeks longer than in the depths of the pandemic in late April at 3.25 weeks.