Market Data

Steel Mill Lead Times: Persistently Longer
Written by Tim Triplett
November 24, 2020
Lead times for spot orders of hot rolled steel have extended by another half-week as demand persistently outpaces supplies. Lead times for steel deliveries continue to stretch with hot rolled now averaging nearly seven and a half weeks and coated steel orders around nine and a half weeks. Lead times are an indicator of steel demand—longer lead times mean the mills are busy and less likely to discount prices.
According to Steel Market Update’s check of the market this week, current hot rolled lead times average 7.31 weeks, up from 6.82 two weeks ago. HR lead times have extended by a full month since hitting 3.25 weeks at the low point in April.
Cold rolled lead times are at 8.77 weeks, down slightly from 8.91 two weeks ago. Like hot rolled, cold rolled lead times are nearly four weeks longer than in late April.
Galvanized lead times now average 9.21 weeks, down a bit from 9.39 two weeks ago—also about four weeks longer than the low point this spring. Similarly, the current average Galvalume lead time is out to 9.58 weeks.
Plate lead times have seen the most change of late, extending to 7.00 weeks from 6.27 weeks in late November. Plate lead times have more than doubled since bottoming a 3.20 weeks in May. Plate demand appears to be improving, with SMU data showing plate prices on the increase.
Viewed as three-month moving averages to smooth out the volatility, hot rolled lead times have continued to extend to 6.54 weeks, cold rolled 8.22 weeks, galvanized 8.69 weeks, Galvalume 9.28 weeks and plate 5.78 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.


Tim Triplett
Read more from Tim TriplettLatest in Market Data
HARDI: Galv demand improves in October, higher prices expected in new year
Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.
AISI: Raw steel mill output stabilizes
Domestic mill production inched higher last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Prior to the start of this month, raw output had remained historically strong since June.
Steel market chatter this week
What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Survey: Current Sentiment sinks to lowest level since May 2020
SMU’s Steel Buyers’ Sentiment Indices both fell this week, with Current Steel Buyers’ Sentiment notching the lowest reading since May 2020.
