11/03/2026
A signed steel order used to mean the material was yours. These days, that's not always the case.
Mills are cutting back orders they've already accepted. Recent industry reporting describes firm orders being reduced by as much as 75% with no confirmed new delivery date, mill allocations going out on top of that, and lead times for large fabricated orders stretching to 46-52 weeks. Pricing has also moved, with increases of $600-$700 per ton reported earlier this fall.
So the real risk right now isn't just the price of steel. It's a package you thought was locked in quietly shrinking underneath you.
A few things worth doing on any project with steel already in progress:
1. Get written confirmation from your fabricator on tonnage reserved and delivery dates, not a verbal "it's handled."
2. Ask what happens if the mill reduces the order: is there an escalation or re-order clause that protects the schedule?
3. Check that the small stuff is actually reserved too. Base plates, connection material, and embeds are often the pieces that slip when a mill cuts an allocation, and they're what stops er****on cold.
We watch this on every package we run, and we build orders so a mid-project cut doesn't stall your job. If you have steel in fabrication right now, it's worth a quick check on where your material actually sits.
Has anyone had an order trimmed after it was placed? What did that do to your schedule?