Demand for iron fittings should remain stable through Q1 2020.

No Changes since last month’s report.

The producer price index for copper tube and fittings was down 2.4% month-over-month (down 4.9% in the last update) and was down 4.5% year-over-year (down 6.3% Y/Y last month).

Typical year-end slowing is expected

Valve prices according to the Producer Price Index were flat again month-over-month in August (flat last month also).

Nickel prices have increased again over the past 30 days to around $7.71 per lb. ($7.30 in the last update).

Producer prices for HDPE pipe were up 1.0% M/M (up .2% last month) and were up .4% Y/Y (down 1.2% Y/Y last month).

We expect to see a ~5% increase by early 2020 on the back of projected steel scrap increases.

Inventory, price and demand have seen no significant changes since last month’s report.

Price and lead times will remain flat into 4Q19.