Current situation:
- NYMEX domestic hot-rolled coil steel prices were $668 per ton for November futures ($591 per ton in the last update).
- Producer prices for steel pipe and tube were down 0.8% month-over-month in September (up 1.2% last month). Year-over-year, prices are 7.3% lower (5.6% lower Y/Y last month).
Key factors that could affect supply or price:
- Steel pipe pricing has started to adjust upward as core steel prices rise into November. As certain types of construction rebound, look for a slight uptick in prices as we roll through Q4.
