Grooved product report: August 2017
Grooved products experienced a 6-7% increase this summer due principally to significant increases in scrap costs. Demand for grooved product remains quite strong due, in large part, to the surge in commercial building in the major urban markets. Nationally, the health-care sector continues to be very strong with hospital construction leading the way. College-campus construction also continues to drive significant demand for grooved product across the country, while K-12 school building has continued to see some very strong regional activity.
The oil & gas sector has strengthened considerably from 2016 due to the sizable increase in rig activity this year, although the increases have leveled out in recent weeks. Data-center building also has remained strong and is showing no indication of slowing down.
Of significant note, Anvil announced it had acquired Grinnell’s North American Mechanical Grooved Division on August 1, an event that will change the grooved product landscape in yet to be determined ways.
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