Steel Prices Are Settling – But Lead Times Are Starting to Move Again
The steel market is shifting again, and there are two clear trends starting to emerge across the industry.
Firstly, prices are beginning to settle. After a prolonged period of volatility, material costs appear to be stabilising and the sharp fluctuations seen over recent months are easing.
At the same time, supply chains are starting to get busy again. Fabricators and suppliers are seeing increased activity, which is already beginning to affect availability and lead times.
Historically, that combination does not tend to last for long.
When prices steady and demand begins to increase, pressure quickly builds back into the market. Lead times extend, availability tightens and pricing can start moving again with very little notice.
For businesses planning fabrication work, structural steel, mezzanines, bespoke metalwork or larger commercial projects over the coming months, early conversations are important. Waiting until projects are ready to go can often mean longer waits, increased costs and reduced flexibility around scheduling.
At Chrome Custom & Iron, we are already seeing movement within the market and speaking to customers about forward planning to help avoid unnecessary delays.
If you are considering steelwork in the months ahead, now is the time to start the conversation.
