Current situation:
- NYMEX domestic hot-rolled coil steel prices (CRU) were $1,320 per ton in March ($1,236 per ton in the last update).
- Producer prices for steel pipe and tube were up 6.8% month-over-month in February (up 2.1% last month) and the second highest monthly rate of growth since April of 2004. Year-over-year, prices are 10.1% higher (3.5% higher Y/Y last month).
Key factors that could affect supply or price:
- Carbon steel pipe has resumed large weekly increases after a brief pause. We anticipated some relief coming in Q2, but those hopes are fading as there are some scheduled mill outages that will reduce capacity nationwide.
