Current situation:
- NYMEX domestic hot-rolled coil steel prices were $1,236 per ton in February ($1,066 per ton in the last update).
- Producer prices for steel pipe and tube were up 2.1% month-over-month in January (up 1.1% last month). Year-over-year, prices are 3.5% higher (1.8% higher Y/Y last month).
Key factors that could affect supply or price:
- Hot-rolled coil prices have increased again a bit over the last week, but they appear to be flattening. We could still see an increase in carbon steel pipe, but that will be more of a function of extended lead times. This committee expects steel pricing to plateau soon and begin a slow, gradual fall to more routine levels.
