Raw material barometers remain stable for industrial valves. However, the sustained 22% increase in the COMEX copper index over the last 65 days, coupled with significant increases in both nickel and iron, would seem to signal an increase in valve pricing may be imminent. Manufacturers are watching their costs very closely as inventories need to be maintained for the expected 2017 predicted surge.
The fourth-quarter of 2016 is shaping up as the strongest quarterly performance of the year. Both ITR Economics and R. W. Baird are reporting all the economic indicators they track are trending up so their projection for our industry in 2017 is a solid 4.0-5.0% growth trend, which they currently anticipate will continue into 2018.