Argus Pipe Logix Line Pipe Report – February 2024

Argus Pipe Logix Line Pipe Report – February 2024

(by Rye Druzin, www.pipe-logix.com) US line pipe prices fell by 2% in February, accelerating declines compared to the prior month. Domestic prices fell by 2.7% and import prices edged down by 1%. This is the 21st consecutive month of overall price de-creases. The domestic all sizes ERW average price fell by 1.1% to $1,898/short ton (st), pushed down by decreases in medium and large diameter pipe. The all sizes seamless average price dropped by 3.5% to $3,673/st, weighed down by declines across all products. The import all sizes ERW average price slipped by 0.7% to $1,503/st, while the all sizes seamless average price fell by 1.2% to 52,831/st. Distributor’s sentiment edged down in February by two points to 47, the second consecutive decline. The price outlook plunged for a second month, dropping by 30 points to 25. Oil prices rose by 2.4% in January compared to the prior month, while natural gas prices rose by 6.7%. Hot-rolled coil (HRC) prices fell by 0.9% sequentially in January. The average North American drilling rig count for January slipped by three to 620 compared to the prior month.

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