Current situation:

• Valve prices according to the Producer Price Index were up 0.7% month-over-month in May (flat last month). On a year-over-year basis, prices were up 2.2% (also up 1.5% last month).

Key factors that could affect supply or price:

• Casting and forging lead times have normalized, and U.S. inventories are back to normal with weaker domestic demand from the energy sector. Price increases are mainly still in effect from 2018. Keep an eye on ocean freight costs and port delays as lead times could start to push out.