Steel Mill Lead Times: No Course Correction Yet

Lead times for spot orders of cold rolled and coated products have now extended to more than 10 weeks, while lead times for hot rolled now exceed nine weeks, based on Steel Market Update’s check of the market this week. Despite widespread expectations that mill lead times are overdue to reverse course as supplies catch up with demand, delivery times continue to stretch out as the market remains tight.

Buyers report that shipments from the mills are routinely late, adding to the difficulty they face in servicing their customers’ needs. “Not only are lead times extended, pretty much all the mills are running tardy, too,” complained one service center executive, calling it “a nice little 1-2 punch by the mills to keep this rally alive and well.”