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    Analysis

    March 24, 2026

    Final Thoughts

    Written by Michael Cowden

    Sheet prices continue to inch higher. And people who once thought hot-rolled coil (HR) couldn’t go above $1,000 are now saying $1,100 doesn’t seem out of the question.

    That probably shouldn’t come as a surprise. As we reported last week, lead times continue to extend, domestic mills still have the pricing power, and (as our premium subscribers already know) service center inventories continue to move lower. (If you’re interested in upgrading from executive to premium, let us know at smu@crugroup.com.)

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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