Steel Mill Lead Times: Mills Remain Busy

Signaling that the mills remain busy, lead times for delivery of spot orders continue to lengthen with hot rolled now averaging more than six and a half weeks and coated steel orders around nine weeks. Lead times are an indicator of steel demand—longer lead times mean the mills have more orders to process and are less likely to negotiate on prices.

According to Steel Market Update’s check of the market this week, current hot rolled lead times average 6.62 weeks, up from 6.58 two weeks ago and 6.15 at this time last month. HR lead times have more than doubled since hitting 3.25 weeks at the low point in April.