Current situation:  

• NYMEX domestic hot-rolled coil steel prices were $500 per ton for July futures ($516 per ton in the last update).  
   
• Producer prices for steel pipe and tube were down 0.8% month-over-month in May (down 1.4% last month). Year-over-year, prices are 5.3% lower (5.4% lower Y/Y last month). 

Key factors that could affect supply or price:

• Domestic mills are experiencing weak inventories presently. Normally, this would cause price increases, albeit temporarily. Due to the COVID-19 economic impact, prices have remained flat and down in many cases.