Analysis
May 8, 2026
Sheet sources comforted by stable market, hopeful for summer
Written by Kristen DiLandro
Sheet market participants found modest spot price increases this past week, but conceded that overall market conditions remained stable.
Throughout the US, sources report little change in lead times, prices, and buyer demand. Sources wonder whether the stability will beat the summer doldrums this year.
Market commentary
A West Coast steel service center associate remains encouraged by the market’s uncanny stability.
“Business is good. It can always be better but I’m not sure whether it’s easier to stay this way or handle peaks and troughs,” he said.
A mill source located in the Midwest confirmed sustained strength in orders and remained hopeful that market stability would last through the summer.
“We had a good book of new spot orders for hot-rolled coils. Cold rolled isn’t as robust. I do see this lasting for quite some time, but not likely a persistent rise in prices all through the rest of summer,” he said.
A Midwest service center source reported little dynamism in the market from week to week, but also expressed a desire for current conditions to carry through the summer.
“It’s like Groundhog Day over and over again. We have added incremental price increases each week. I am hoping that current sales levels continue as long as the price continues to rise,” he said.
Prices
Each Tuesday, SMU conducts its weekly price assessment. On May 5, HR prices ranged from $1,050 to $1,100 per short ton (st). The average spot transaction price was $1,075/st.
Reach out to the author at kristen.dilandro@crugroup.com if you’re interested in contributing your perspective to our weekly sheet market report. We will always keep your name and your company’s name confidential.
