Steel Mill Lead Times: A Week Shorter

With the exception of coated products, lead times for delivery of flat rolled and plate steel have shortened by a week or more – the first significant decline this year and a possible sign that rising steel prices are losing momentum.

Lead times for spot orders of steel have extended continuously since the market bottomed last spring due to the pandemic-related shutdowns. The average lead time for hot rolled was a quick 3.25 weeks in late April 2020. By earlier this month it had stretched to nearly 11 weeks as demand continued to outpace supply. The longer the lead times, the busier the mills and the less likely they are to discount prices to win orders.