Current situation:
- NYMEX domestic hot-rolled coil steel prices (CRU) were $1,451 per ton in April ($1,320 per ton in the last update).
- Producer prices for steel pipe and tube were up 4.5% month-over-month in March (up 6.8% last update) and are now the highest on record. Year-over-year, prices are 14.5% higher (10.1% higher Y/Y last month).
Key factors that could affect supply or price:
- Lead times are extended and hot rolled coil has gone from 3 to 4 weeks to over 12 weeks.
