PVF Update: Carbon Steel Pricing Hits Headwinds

From the latest ASA Industrial Piping Division Commodities Report (a free benefit to all ASA members), carbon steel pricing has hit some headwinds that are putting pressure on pricing recently. A lot of the downward pressure is due to China’s slowing demand.

Hot-rolled coil did see a slight rise in pricing in March 2023, but that price has fallen back to February levels. Typically, new construction starts falter in June and July, so analysts are expecting a depressed market until at least September.

Not pipe related, but Chinese rebar pricing has fallen to the lowest prices since April 2020 during the early days of the pandemic.

Also in the new Commodities Report, in an update on forged steel, carbon and stainless fittings and branch connections, only one manufacturer announced a price increase at the end of April. These increases were limited to welded nipples, merchant couplings and API couplings.  There were no other price increase announcements on high-pressure forged steel carbon or stainless fittings and branch connections from any of the major domestic manufacturers. 

Product availability remains strong with deliveries quoted stock to two weeks.  Raw material availability for production is good with longer lead-times occurring on some sizes of pipe and tubing. 

The Commodities Report is written by members of ASA’s Industrial Piping Division. To receive a copy of the latest report, contact Mike Miazga at mmiazga@asa.net.