Steel prices ease, but dealers warn equipment lead times will stay long into 2027
Lower input costs have not yet reached price lists, and engines, hydraulics, and electronics remain the bottleneck at assembly plants.
Hot-rolled steel prices have fallen for five consecutive months, but buyers hoping for cheaper machines or faster deliveries should not hold their breath, according to dealers and manufacturers surveyed by News Equipment.
Steel is a large share of the weight of a heavy machine but a smaller share of its cost than many assume. The components that set delivery dates — engines, hydraulic pumps and valves, and control electronics — come from a small number of suppliers that are still running near capacity.
What buyers should expect
Most manufacturers have held list prices flat for 2027 model-year machines rather than cutting them, instead offering financing incentives and extended warranties. Lead times on mid-size excavators and wheel loaders are averaging 14 to 20 weeks, roughly unchanged from spring.
Dealers advise fleet buyers planning spring projects to place orders before the end of the year, and to be flexible on configuration where stock units are available.
- Supply chain
- Pricing
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