Current situation:
- NYMEX domestic hot-rolled coil steel prices were $516 per ton for June futures ($480 per ton in the last update).
- Producer prices for steel pipe and tube were down 1.4% month-over-month in April (up 0.7% last month). Year-over-year, prices are 5.4% lower (4.8% lower Y/Y last month).
Key factors that could affect supply or price:
No change from last month. The effects of COVID-19 as they relate to carbon steel pipe, will not be fully understood for another month, but expect supply problems on certain sizes and ranges as well as soft pricing on existing inventories.
