Steel Mill Lead Times: Shorter...Even for Plate

Lead times for spot orders of plate steel now average 5.93 weeks, down from 7.14 weeks at the beginning of the new year. For most of last year, customers had to wait nearly eight weeks and settle for what they could get as the mills had orders on allocation. The latest SMU data is the first sign that supply and demand may finally be equalizing in the plate market.

Hot rolled lead times now average 3.38 weeks, down from 3.78 weeks in early January. Current lead times for hot rolled are below the 4.50 weeks at this time last year and more than two weeks shorter than the past year’s peak of 5.73 weeks.

Cold rolled orders currently have a lead time of 5.33 weeks, down from 5.58 weeks around Jan. 1. Cold rolled lead times have been under six weeks on only a few occasions in the past two years.

Similarly, over the past two weeks, lead times for galvanized steel dipped from 6.15 to 5.88 weeks. Galvalume lead times declined to 5.71 weeks from 6.33 weeks.

Note: These lead times are based on the average from manufacturers and steel service centers who participated in this week’s SMU market trends analysis. Our lead times do not predict what any individual may get from any specific mill supplier. Look to your mill rep for actual lead times. Our lead times are meant only to identify trends and changes in the marketplace. To see an interactive history of our Steel Mill Lead Times data, visit our website here.