Current situation:

• Valve prices according to the Producer Price Index were down 0.3% month-over-month in July (up 0.8% last month). On a year-over-year basis, prices were up 2.1% (up 2.4% last month).

Key factors that could affect supply or price:

• Casting and forging lead times have normalized, and U.S. inventories are almost back to normal with weaker domestic demand. Price increases are mainly still in effect from 2018. Lead times and pricing should remain stable through the end of 2020.