Steel Mill Lead Times: Finally Trending Down

Lead times for spot orders of flat rolled and plate products from the mills have all seen notable declines this month, with the exception of Galvalume, according to Steel Market Update’s check of the market this week. The average lead time for hot rolled is now less than nine weeks, down from more than ten and a half weeks in early August. While lead times are still much longer than historical averages, shortening lead times are consistent with the trend in steel prices, which are beginning to level out.

Buyers reported mill lead times ranging from 6-13 weeks for hot rolled, 8-14 weeks for cold rolled, 6-16 weeks for galvanized, 12-16 weeks for Galvalume, and 5-14 weeks for plate.