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Stainless steel pipe and fittings prices had remained under consistent, downward pressure since the end of 2022. The major reason was the precipitous fall of nickel prices following the astonishing runup of LME nickel prices during the first half of 2022.

STEEL MARKET UPDATE: Flat-roll producers are more willing to negotiate on pricing than in the recent past. Specifically, the increased proliferation of import steel pipe in the market has contributed to suppressing prices this year. @ASA_HQ #Tuesday #Commodities

Carbon Steel Update: After a brief producer-initiated spike to welcome the start of April, hot-rolled coil prices have largely settled back into a lower station. Officially, HRC is trading 12% down from the start of April. @ASA_HQ #Commodities #Monday

Copper Update: Copper continues to go up in price. Not sure where it will stop. 12% up so far this year. @ASA_HQ #commodities

Stainless steel pipe and fittings prices had remained under consistent, downward pressure since the end of 2022. The major reason was the precipitous fall of nickel prices following the astonishing runup of LME (Class I) nickel prices during the first half of 2022.

COPPER UPDATE from @Nasdaq: Priced at $4.4865, Prior Settlement: $4.46, 52 Week High: $4.526, 52 Week Low: $3.552 @ASA_HQ #copper #Thursday

Nickel Price Update: April 19, 2024, the price of nickel is $8.8308 per pound. @ASA_HQ #commodites #Wednesday

HRC Steel Update from @MarketWatch: $812.00, +5.00, +0.62% @ASA_HQ #commodities #HotRolledCoil

Commodity Update from @OilandEnergy

Oil: $82.88, -0.26%

BRENT: $86.68, -0.61%

NAT GAS: $1.779, +0.027% #Monday #PVF

@ASA_HQ

Carbon steel futures are down 3% this month and 30% year-to-date. International markets are seeing more stress than domestic, as historically high interest rates in Europe have put massive pressure on inventories.

The Federal Reserve is still maintaining current rates but was still signaling two to three rate cuts in 2024, all being a quarter-point. The first cuts are expected to begin in June but could come earlier. #Commodities

The current GDPNowcast from the Atlanta Fed has started to decelerate from earlier forecasts in Q1 but is still showing the economy growing at 2.1% (2.9% in last month’s report and Blue-Chip forecasters are now expecting growth of 2.0% as well in the quarter).

Commodity Update from @OilandEnergy

Oil: $82.07, +0.12%

BRENT: $86.78, +0.03%

NAT GAS: $1.610, -0.005% #Tuesday #PVF

@ASA_HQ

"Quote activity has increased as well as larger projects breaking ground. The first quarter was slow to start but we see positive gains moving forward. Sales for March are flat compared to a very good month in 2023 but margin is up slightly." @ASA_HQ

COPPER UPDATE from @Nasdaq : Priced at $4.0745, Prior Settlement: $4.13, 52 Week High: $4.13, 52 Week Low: $3.552 @ASA_HQ #copper #Wednesday  
Nickel Price Update: As of March 15th, the price of Nickel per Lb: $8.1159 @ASA_HQ #commodites #Tuesday

The EIA is forecasting gasoline prices to average $3.31 in 2024 after averaging $3.52 last year. Diesel forecasts show an annual price of $3.92 after averaging $4.21 last year. #Commodities @ASA_HQ

HRC Steel Update from @MarketWatch: $789.00, -4.00, -0.50% @ASA_HQ #commodities #HotRolledCoil

Commodity Update from @OilandEnergy

Oil: $81.20, +1.48%

BRENT: $85.28, +1.25%

NAT GAS: $1.683, +0.025% #Thursday #PVF

@ASA_HQ

Economy: First-quarter GDP is once again stronger than expected on the back of strong consumer spending, government investment and stable corporate spending (nonresidential construction). @ASA_HQ #Commodities

The Federal Reserve is still signaling two rate cuts in 2024, both being a quarter-point. As we approach the presidential election, the Fed likely will be unwilling to change rate policy. #Commodities @ASA_HQ

Domestic Malleable Iron Update: An industry-wide price increase of 6% went into effect Jan. 1 with labor and energy being the primary cost-increase drivers. #Commodites #Monday @ASA_HQ

Entering 2024, the industry as a whole anticipates a continued return to pre-pandemic stability across the board. Resin suppliers based in the Gulf Coast were able to dodge a repeat catastrophe by closing vulnerable processes during a recent cold snap. These measures resulted...
As the New Year begins, both carbon and stainless-steel bar remain readily available. Raw material pricing has remained stable. Finished high-pressure forged steel fittings and branch connections are available for delivery from stock to 2 weeks. @ASA_HQ #Commodities #Tuesday

Malleable Iron Update: A 6% industrywide domestic malleable increase was implemented Jan. 1. Rising energy, labor and raw material costs drove the increase. #Commodities #Monday @ASA_HQ

2024 has started as a promising year for projects and stainless steel to be used on those projects. Prices have leveled out with some signs that we will see an upward movement, like carbon steel prices. #commodities @ASA_HQ

HRC pricing is down 26% year-to-date. This is due primarily to new, additional capacity having been brought online, as well as a decline in demand. @ASA_HQ

Carbon steel prices have been in decline since the start of the new year. HRC pricing is down 26% year-to-date... #HRC #Commodities @ASA_HQ

Commodity Update from @OilandEnergy Oil: $75.25, -0.29% BRENT: $80.26, -0.32% NAT GAS: $2.770, -0.085% #Monday #PVF @ASA_HQ

Domestic Malleable Iron: An 8% increase was announced and implemented in the first quarter of 2023. Rising raw material, energy and labor among other variable costs driving the increase.

The stainless-steel fitting market has largely stabilized over the past few months. Lead times for finished goods were somewhat extended but as they’ve returned to normal, modest pricing pressure has been observed.

Stainless Steel Pipe: As we come to the close of another exciting year in the stainless world, we are happy to report that 2023 will be remembered as a stabilizing year for pricing in the market. The peaks of the nickel and supply chain crisis of 2022 are in the distant...

As we come to the close of another exciting year in the stainless world, we are happy to report that 2023 will be remembered as a stabilizing year for pricing in the market. The peaks of the nickel and supply chain crisis of 2022 are in the distant mirror.

Stainless pricing still flat within most domestic segments of materials as we start to end the year. There's caution in near-term economic reports as there are signs that the aggressive raising of interest rates is hitting some sectors of consumer spending harder than...

Carbon Steel Pipe Update: The last month has seen hot-rolled coil (HRC) prices increase by just over 20%. Lead times have also increased that amount. What is unknown is how much of this increase is self-imposed, nor how long these increases will last.

Copper prices rebounded from an 11-month low following an announcement by China that it plans to increase fiscal support in an effort to revitalize its slowing economy and struggling property sector. Nevertheless, copper prices continue to face pressure due to a stronger...

HRC Steel Update from @MarketWatch: $842.00, +15.00, +1.81% @ASA_HQ #commodities #HotRolledCoil

"We are seeing a significant slowdown in our customers at this point and not exactly sure why, maybe due to end-of-year budgets depleting, interest rates high for projects and not able to get financing.  We have had a great last 3 years but slower for sure since...
Oil prices climb & on track to rise for a 2nd week on heightened fears that the Israel-Palestinians crisis may spread in the Middle East and disrupt supply from one of the world's top-producing regions. Brent crude futures was up 88 cents to $93.26 a barrel by...

Commodity Update from @OilandEnergy

Oil: $87.75, -0.57%

BRENT: $90.72, -0.78%

NAT GAS: $3.021, -0.035% #Thursday #PVF

@ASA_HQ

According to the latest Producer Price Index report, the price level of inputs to building materials was unchanged in September after climbing 0.4% in August.  Prices have increased 0.8%, year-to-date, the smallest YTD gain through September since 2019. @NAHBhome

Nickel Price Update: As of October 12th, the price of Nickel per lb: $8.3742, while just the day before, the pricing per lb was listed at $8.2037. @ASA_HQ

#commodites #Monday

HRC Steel Update from @MarketWatch:

$695.00, -1.00, -0.14%

@ASA_HQ #commodities #HotRolledCoil

The Federal Reserve left rates unchanged in September but allowed the door for more hikes in November or next year to stay on the table. The Fed remained hawkish, saying that inflation was still too high and far from its target 2% rate.

Economy: Third quarter GDP was still trending stronger than expected, current GDP growth for the quarter was estimated to be 4.9% according to GDPNow tracker. Most analysts are still expecting slightly cooler growth of just under 3% but remaining ahead of expectations.

Commodity Update from @OilandEnergy

Oil: $85.87, -0.51%

BRENT: $97.68, -0.47%

NAT GAS: $3.443, +0.057%

#Tuesday #PVF @ASA_HQ

The U.S. dollar rebounded and is stronger, which is helping keep a lid on petroleum prices.  Typically, when the dollar softens, oil prices rise. Analysts expect the dollar to remain stronger in the near term, but longer-term pressures are more likely to push it lower over...

Oil and Gas Update: The bulk of the energy sector has started to inflate once again. Crude oil prices were sharply higher month-over-month at the time of writing. Concerns over supply pressures and weaker inventory levels are driving this worry.

“Regarding copper, the Comex continues to fluctuate in a pretty narrow range in September, hitting a high of $3.85/lb earlier in the month and we are now at our low, hitting $3.67/lb. There is speculation that Copper could go lower by the end of 2023 ($3.50/lb range),...
PVF Update: From the Distributor Side  “Commodities continue to be soft. Rising interest rates and slowing multi-residential starts are hurting PVC and small-bore steel pipe sales; Compound that with reduced prices due to deflation and it puts you in a shrinking...

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