- Valve prices according to the Producer Price Index were flat month-over-month in March (up 0.1% M/M last month). On a year-over-year basis, prices were up 1.5% (up 2% last month).
Key factors that could affect supply or price:
- We have not seen any production delays in Asia from the coronavirus. Domestic inventories have been building on industrial valves and lead times continue to soften. Most companies need oil to be $45 / barrel to carry sustainable margins and $60 / barrel to be significantly profitable. Demand can go way down for industrial valves if oil stays below $30 / barrel.