Valve prices, according to the Producer Price Index, were up 0.9% month-over-month in August (up 0.6% last month). On a year-over-year basis, prices were up 4.2% (up 3.4% last month).

Key factors that could affect supply or price:

Casting and forging lead times have normalized, and U.S. inventories are back to normal with weaker domestic demand from the energy sector. Price increases are mainly still in effect from 2018.

Import volumes will start to increase as Asian ports start to get back in cycle. Waves of containerships are sitting offshore and as they get unloaded, inventories will improve – especially with some commercial sectors still facing headwinds.