Iron and Steel Scrap
In August Iron and steel scrap index pricing continue to fall from an all time high of 859 in April 2022 to 563 in August 2022. equivalent to pricing from April of 2018, peak pricing before the Pandemic. This is a drop of 35% in steel/iron scrap cost. This dictates strongly the cost of producing carbon steel valves.
Steel Pipe and Tube (Stainless)
Stainless steel pipe and tube is falling since reaching an all time high of 169 in May 2022 to 161 in August 2022. Lagging behind the fall of iron and steel scrap pricing by 3 months.
Cobalt pricing have maintain relatively stable from late July to now. maintaining a drop of 26% since the beginning of 2022. This material dictates strongly the cost of hardfacing material, stellite.
Nickel pricing have continue the slow rising cost after crashing after the correction after the spike in March 2022. The index is 30% higher than the low price point experienced during the pandemic April of 2020. This index strongly affects the pricing of Nickel Alloy valves.