ASA Materials Market Digest – January Edition Available

Volatility continues to define the oil and fuel landscape, with markets unsettled by a combination of geopolitical uncertainty and extreme winter weather. A major late-January storm disrupted fuel consumption while also constraining petroleum production due to freezing temperatures and increased heating oil demand. At the same time, global supply dynamics remained fluid, as uncertainty surrounding Iran and Venezuela was partially offset by discussions of a potential Ukraine ceasefire that could impact Russia’s ability to distribute oil more freely. As a result, price instability is expected to persist in the near term.
 

Crude prices rose month over month but remain well below year-ago levels. West Texas Intermediate increased to $60.60 per barrel, up from $56.54 last month but nearly 19% lower than this time last year, while Brent crude climbed to $65.51, reflecting similar trends. Fuel prices were mixed, with diesel declining to $3.57 per gallon and gasoline holding steady at $2.88—both notably lower than last year. Looking ahead, the EIA’s 2026 forecast shows crude prices remaining historically low, alongside lower average gasoline and diesel prices, reflecting higher inventories and moderating demand.
 

Distributor feedback points to resilient—but selective—market activity. Many reported steady or improving sales supported by strong backlogs, increased project quoting, and expanding opportunities tied to data centers, healthcare facilities, education, defense manufacturing, and lithium extraction projects. While some margin pressure and sector-specific slowdowns persist, overall sentiment remains optimistic, with momentum carrying over from a strong finish to last year.
 

Material markets present a mixed but generally stable outlook. Carbon steel pipe pricing has remained flat since late 2025, though lead times have stretched to multi-year highs amid global supply shifts. Stainless steel activity continues to be driven by data center projects, while demand for carbon steel weld fittings and flanges has contributed to shortages and price increases. Copper prices surged in January, and cast-iron pipe and fittings saw approximately 5% list price increases take effect for 2026.
 

These trends—and the forces shaping them—are tracked in The ASA Materials Market Digest, which delivers timely, in-depth market intelligence on the materials most important to your business. Included as a benefit of ASA Industrial Piping Division (IPD) membership, the monthly report provides pricing data, producer announcements, commodity market activity, and real-world distributor insights. For ASA members outside of IPD, an annual subscription is available for $450 and includes 12 monthly reports.