Steel Mill Lead Times Change Direction, Extend Modestly

Steel mill lead times extended across the board this week, with production times increasing for all five products we track. Recall that lead times for hot-rolled, cold-rolled, and galvanized products were previously at or near multi-year lows in our late November market check.

Lead times are up by an average of 0.5 weeks compared to both two weeks prior and one month ago. Following their peak in April, sheet lead times have been relatively stable since July/August. Plate lead times had gradually moved lower over the past six months, ticking up this week in our last two surveys.