Current situation:

• Valve prices according to the Producer Price Index were up 0.4% month-over-month in May (flat last month). On a year-over-year basis, prices were up 3.9% (up 3.3% last month).

Key factors that could affect supply or price:

Market demand remains stable in energy for industrial valves.  Extended lead times should continue through Q4 2019 as Section 301 tariffs create supply constraints on Chinese castings and forgings.  Price has increased commensurate to the tariffs imposed on China.