Distributors/Service Centers
April 24, 2026
Sheet market sources report strengthening market conditions
Written by Kristen DiLandro
Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.
One Midwest service center source said demand remains consistently strong. He also thinks the market will see imports enter the equation in a more significant in late 2026. “Q1 was a great quarter for us. We are hoping the trends continue. Our manufacturing order book is solid for months,” he said.
The Midwest source, unlike some others, also said domestic mills should have “no trouble” keeping up with demand. “And if pricing continues to move upward, imports will start to look appealing to many. Once people start shifting to imported material, the mills will start to drop pricing. Typical cycle in this business,” he said.
Another Midwest source said mills have pricing power, for now. He questioned whether seasonality – summer is typically slower – and increased import volumes might change the picture. “HRC is still strong, with mills holding the cards. But summer is coming. We will see if the prices can hold up or if imports challenge the mills,” he said.
A mill source agreed that demand has been good, and he said his company has been busy recently with spot transactions. “We saw a great deal of inquiry activity last week at every mill, and our spot sales reflected that as well. It was a much heavier week of bookings on spot HRC than typical,” he said.
The same mill source said his company continues to increase spot prices.
Prices
SMU’s weekly spot price for hot-rolled coil stands at $1,060/st on average as of April 21. That’s up $10/st from the week prior and up $150/st from the beginning of the year. We will next update prices on Tuesday, April 28.
