Analysis
June 11, 2026
SMU Survey: Sheet and plate lead times extend further
Written by Brett Linton
Steel mill lead times extended this week for both sheet and plate products, according to buyers who responded to our latest market survey. Production times have trended higher since last November and are now at multi-year highs. Current levels are two to three weeks longer than those seen last summer.
Buyers say some mills are beginning to catch up on orders following their spring outages, while others struggle to keep up with demand and are quoting significantly longer production times. Imported material is also said to be becoming more attractive, with some sources saying foreign lead times are comparable to those of certain domestic producers.
Lead times by product
- The average production time for hot-rolled coil is seven and a half weeks, the highest it has been in four and a half years.
- Cold rolled jumped to just over nine weeks, a high last recorded in October 2021.
- Coated products are between eight and a half and nine weeks, both at some of the highest levels seen in two and a half years.
- Plate rose to just over eight weeks, now the highest rate witnessed in nearly five years.
Table 1 summarizes current lead times and recent changes by product (click to expand).
Compared to our mid-May market check, four of our lead-time ranges shifted:
- The shortest cold rolled lead time considered increased from six weeks to seven, and the longest increased from 11 weeks to 12.
- The longest galvanized lead time increased from 11 weeks to 12.
- The shortest Galvalume lead time increased from six weeks to seven.
- The longest plate lead time considered increased from nine weeks to 10.
Buyers predict stability
The majority of responding buyers (72%) predict lead times will be flat two months from now, slightly higher than our previous survey. The remainder was split, with 18% expecting lead times to extend further and 10% foreseeing contractions. Comments included:
“Flat in the fact that everything will still be delayed.”
“Flat – September seems to be the inflection point.”
“Flat – Mills are doing a great job of opening and closing each production month. Not overbooking and keeping lead times around the same. Extended but not overextending.”
“Flat – Plant shutdowns will get mills further behind.”
“Extending – Summer shutdown will push lead times out.”
“Contracting – In two months, inventories will have recovered from their relatively low levels and lead times will start to drop.”
Trends
Lead times can be calculated on a three-month moving average (3MMA) basis to better highlight trends. All five of our 3MMA lead times extended further this week, a recurring trend seen in most of our surveys since late 2025 (Figure 2).
Sheet 3MMA lead times are roughly two weeks longer than the two-year lows seen last September, now at highs last recorded since early 2024. Our latest plate 3MMA is nearly two weeks longer than it was at the start of the year and was last this high in late 2021.
Average lead times by product across the past three months were: hot rolled at 6.7 weeks, cold rolled at 8.2 weeks, galvanized at 8.1 weeks, Galvalume at 8.4 weeks, and plate at 7.2 weeks.
Note: These lead times are based on the average from manufacturers and steel service centers participating in this week’s SMU market trends analysis survey. SMU measures lead times as the time it takes from when an order is placed with the mill to when it is processed and ready for shipping, not including delivery time to the buyer. Our lead times do not predict what any individual may get from any specific mill supplier. Consult your mill rep for actual lead times. Premium members can view an interactive history of our steel mill lead times data on our website. If you’d like to participate in our surveys, contact smu@crugroup.com.
