Current situation:
- NYMEX domestic hot-rolled coil steel prices were $591 per ton for October futures ($504 per ton in the last update).
- Producer prices for steel pipe and tube were up 1.2% month-over-month in August (up 0.2% last month). Year-over-year, prices are 5.6% lower (6.5% 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 slight uptick in prices as we roll towards Q4.
