Current situation:
- NYMEX domestic hot-rolled coil steel prices were $552 per ton ($603 per ton in the last update).
- Producer prices for steel pipe and tube fell by 2.1% month-over-month in May (latest available). Year-over-year, prices are 1.8% higher (6.2% higher Y/Y last month).
Key factors that could affect supply or price:
- The bearish market we saw last month continues into June as we see inventories stable and demand steady if not retracting. The introduction of at least one domestic producer over the past calendar year has put added pressure on pricing.
