Demand remains strong for forged steel fittings as WTI Crude sits at $71.55 per barrel. Additionally, dumping and steel tariffs have limited foreign supply into the United States. Raw material increases and strong demand have driven pricing upwards. Disruption in the market could cause inventory shortages throughout 2018.
The pricing for carbon steel BW fittings and flanges remains strong. There have been multiple price increases and lead times have grown. Discussion is heavily focused on the final outcome of the Section 232 tariffs that are a moving target. Additionally, the multiple anti-dumping and countervailing suits that were filed have had an impact on prices. There is discussion that some of the buying is strategic vs. demand-driven with worries of shortages and longer lead times.