(by Rye Druzin, www.pipe-logix.com) US line pipe prices dropped by 2.3% in June to $2,334/st, with the domestic market broadly down while tight supply edged imports higher. This is the 25th consecutive month of overall price de-creases. Domestic prices dropped by 4.1% and import prices edged up by 0.2%. The domestic all sizes ERW average price declined by 1.7% to $1,804/short ton (st), while the all sizes seamless average price dropped by 5.3% to $3,435/st. The import all sizes ERW average price fell by 1.8% to $1,438/st, while the imported seamless average pipe prices increased by 1.4% to $2,661/st. Distributors said an exhausted quota from South Korea is tightening the supply of imports. Distributor’s sentiment dropped by nine points compared to May to 35, the lowest reading since August 2020. The price outlook dropped by 12 points to a negative reading of 17, the lowest reading since June 2023. Oil prices fell by 6.8% in May compared to the prior month, while natural gas prices increased by 35%. Hot-rolled coil (HRC) prices fell by 8.1% sequentially in May. The average North American drilling rig count for May fell by 15 to 602 compared to the prior month.
Argus Pipe Logix Line Pipe Report – June 2024
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com