U.S. steel mill lead times for sheet products remained largely unchanged from the previous week, data from S&P Global Platts showed Jan. 27.
U.S. hot-rolled coil at delivery times of 9.5 weeks
Average mill delivery times for hot-rolled coil remained unchanged at 9.5 weeks, as availability was very limited in March and spot tons are expected to be tight in April.
The daily Platts TSI US HRC index gained $40 from the previous week to settle at $1,134/ton on January 27, marking a new all-time high, as continued strong demand and tight supply continued to support rising prices.
Cold-rolled coils on lead times of 10.4 weeks
Lead times for cold-rolled coil remained at an all-time high, increasing by 0.1 weeks to 10.4 weeks. Lead times for HDG reached their highest level since Platts began tracking delivery times, increasing 0.1 weeks to 11.2 weeks.
Amid strong demand, the supply outlook for both value-added products remained tight, and mills with availability continued to pull up their supply levels.
Lead times for plate down slightly
The average delivery time for plate decreased by 0.1 week to 9.4 weeks. While plate prices remained near $980/hr for the third consecutive week, major plate producers launched a ninth round of price increases since plate prices began rising in late August. Both Nucor and SSAB announced price increases of $80/st on Jan. 26 and opened their March order books to spot orders.
The daily Platts TSI U.S. plate index was down 75 cents from the previous week and was valued at $982.25/st on Jan. 27 based on Midwest delivery.
Source: spglobal.com
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