(by Kurt Minnich, www.pipe-logix.com) Line pipe prices are down 2.8% this month with domestic prices down 2.1% and import prices down 3.7%. This is the 13th consecutive month of decreases in the Pipe Logix LP Index with a cumulative decline of 20%. Distributor’s sentiment remains low with the NASPD Index at 34 in August, down from 39 the previous month. Five of the seven components to the index are below 50 with the Price Outlook scoring 20 this month. Reported import volumes are 5% lower compared to a year ago while domestic shipments are higher. The rig count is higher compared to a year ago but it is down 14% from the peak last December. The ratio of line pipe shipments per rig is 247 tons/rig, near its 5-year average.
Line pipe prices are down 2.8% this month with domestic prices down 2.1% and import prices down 3.7%. This is the 13th consecutive month of decreases in the Pipe Logix LP Index with a cumulative decline of 20%. Distributor’s sentiment remains low with the NASPD Index at 34 in August, down from 39 the previous month. Five of the seven components to the index are below 50 with the Price Outlook scoring 20 this month. Reported import volumes are 5% lower compared to a year ago while domestic shipments are higher. The rig count is higher compared to a year ago but it is down 14% from the peak last December. The ratio of line pipe shipments per rig is 247 tons/rig, near its 5-year average.