Current situation:
- NYMEX domestic hot-rolled coil steel prices were $504 per ton for September futures ($502 per ton in the last update).
- Producer prices for steel pipe and tube were up 0.2% month-over-month in July (down 3.6% last month). Year-over-year, prices are 6.5% lower (7.8% lower Y/Y last month).
Key factors that could affect supply or price:
- Steel pipe pricing has tumbled once again as inventories are relatively strong and demand remains low. As construction rebounds, look for a slight uptick in prices as we roll towards Q4.
