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    Analysis

    June 9, 2026

    Final Thoughts: Is the spot ton an endangered species?

    Written by Michael Cowden

    Has anyone seen a creature called the “spot ton” in the wild? I ask because they used to be a common sight. And now I hear they’re endangered.

    Seriously, though, look at published mill lead times. It’s often a sea of “closed” or “inquire.” Maybe they’ve closed order books for one month and not yet opened the next. And then we’ve got certain domestic mills, ones that have developed something of a reputation this year for being late, with lead times for some products out to September.

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

    Read more from Michael Cowden

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