Prices
April 10, 2026
Expect continued incremental sheet price gains, market sources say
Written by Kristen DiLandro
Sheet market participants said they expect hot-rolled coil prices to continue to rise.
A Midwest service center source said some mills are not taking spot orders. And even on the contract side, certain mills are “keeping customers at the ‘middle’ of their contract buys to help get lead-times back into shape,” he said.
That’s a reference to contracts with specified minimum and maximum volumes, often referred to as “min-max” contracts.
“Two US mills I’m dealing with are the worst mills for past due deliveries. I still have orders from January that are not filled yet,” the Midwest source added. “All the other mills are on time for the most part. But they are all lagging to a degree.”
The good news? “Business is still brisk for the start of April. Let’s see how this month plays out,” he added.
A second Midwest service center source agreed. He said customers continue to pay higher prices for orders, which has allowed his company to increase prices largely in step with domestic mills.
“With everything going on in the world, I guess this is as good as we can expect it to be. Prices are up, and most customers are moving numbly along with the floor, understandably,” he said.
A source on the West Coast said supplies were tight there too.
“If you want domestic sheet, you’re paying what the mills are asking for. There’s not a lot of room for negotiations currently,” the West Coast source said. “Maybe Eastern mills are negotiating, but not in the West.”
“I think prices will continue their upward trend for the next couple of months. If you want inventory, you’ll pay it,” he added.
Prices
SMU’s weekly assessment for hot-rolled coil stands at $1,040/st per short ton (st) on average. That’s up $10/st from our prior assessment and up $130/st from the beginning of the year.
