(by Rye Druzin, www.pipe-logix.com) Line pipe prices fell by 0.8% in December, slowing declines compared to the prior month, with domestic prices up by 0.7% and import prices down by 2.6%. This is the 19th consecutive month of price decreases. The domestic price increase is the first since May 2022. The domestic all sizes ERW average price rose by 2.1% to $2,016/short ton, while the all sizes seamless average price slipped by 0.1pc to $3,822/st. The import all sizes ERW average price slipped by 0.5% to $1,554/st, while the all sizes seamless average price dropped by 3.7% to $2,888/st. Distributor’s sentiment rose in December for the fifth consecutive month, with the NASPD Index up by three points to 57, its highest reading since June 2022. Pricing expectations, as a component of sentiment, rose by eight points to 83, with two thirds of line pipe distributors expecting prices to increase. Oil prices dropped by 9.5% in November compared to the prior month, while natural gas prices fell by 2.9%. Hot-rolled coil (HRC) prices jumped by 23%, with steel mills continuing to push and secure higher prices. The average North American drilling rig count for November fell by four to 618 compared to the prior month.
Argus Pipe Logix Line Pipe Report – December 2023
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com