4mm for 10-32??? Sorry but 3/16" is just right, a 10-32 thread has a 0.190" diameter. Number threads are the number x 0.013 + 0.060. Thus #10 is (10 x 0.013) + 0.060 = 0.190", # 8 is (8x0.013)+0.060=0.164" (maybe Baron's 4mm), etc.
As to material, I find 1144 stress proof about as nice to...