Lead times for steel sheet and plate in the United States have reached record highs as historically tight supply continues to constrain the market, according to the latest Steel Market Update (SMU) survey. Sheet and plate prices also continued to rise this week, while buyers expect little near-term relief from the supply squeeze.

Longer lead times mean buyers may need to allow more time between placing orders and receiving material. For businesses that depend on sheet or plate deliveries, the combination of longer waits and rising prices could make purchasing schedules and cost planning more difficult.

The survey points to a tight balance between supply and demand in the flat-rolled steel market, but it does not establish how long the pressure will last. Further changes in lead times and prices will be important indicators of whether availability is improving or remains constrained.