Current situation:  

• NYMEX domestic hot-rolled coil steel prices were $480 per ton for May futures ($577 per ton in the last update).  
   
• Producer prices for steel pipe and tube were up 0.7% month-over-month in March (down 0.3% last month).  Year-over-year, prices are 4.8% lower (5.8% lower Y/Y last month). 
   

Key factors that could affect supply or price:

• The effects of COVID-19, as they relate to carbon steel pipe, will not be fully understood for another 2 months, but expect supply problems on certain sizes and ranges as well as soft pricing on existing inventories.