Current situation:  

• NYMEX domestic hot-rolled coil steel prices (CRU-HRCU1) were $1,880 per ton in August ($1,745 per ton in the last update).  
• Producer prices for steel pipe and tube were up 9.0% month-over-month in July (up 4.0% last month) and are still near the highest on record. Year-over-year, prices are 48.8% higher (36.9% higher Y/Y last month). 

Key factors that could affect supply or price:

• The price of hot rolled coil has finally stabilized after exactly one year of constant increases. Availability of domestic product has been consistent, though many import products are seeing long lead times. We expect to see per-ton finished good prices to stabilize by the end of August. Over the past year, finished good pricing has trailed the HRC market by about 2.5 weeks.