So the old expression, “What goes up must come down,” seems perfectly applicable when the subject is domestic carbon-steel pipe.
At last report, 3Q16, domestic hot-rolled coils (HRC) pricing was experiencing an increase. Now with anemic demands and the addition of more domestic HRC on line this quarter and next, we are seeing downward pressure on pricing. Even with “import duties” being levied against a significant portion of international HRC manufacturers, domestic HRC continues to give back some of the earlier increases.