Current situation:
- NYMEX domestic hot-rolled coil steel prices (CRU-HRCU1) were $1,745 per ton in July ($1,660 per ton in the last update).
- Producer prices for steel pipe and tube were up 4% month-over-month in June (up 2.7% last month) and are still the highest on record. Year-over-year, prices are 36.9% higher (29.3% higher Y/Y last month).
Key factors that could affect supply or price:
- While carbon steel pipe has been experiencing unprecedented price increases, the increases on both hot-rolled coil as well as finished goods has slowed dramatically and a descent, albeit a small, protracted descent seems to be a possibility.
