Forged Steel & Malleable Fittings: April 2019
In general, strong distributor inventories combined with substantial market uncertainty have created moderate demand softening. Domestic manufacturers see a flat near-term future. Manufacturers’ performance has strengthened over the last two quarters and lead times have improved dramatically. The industry saw a $20-per-ton increase in scrap in March that offset the decreases in the beginning of the quarter. Imports, primarily from Korea and India, have become more available and the forecast looks to hold a potential 10 to 15% advantage.