(by Rye Druzin, www.pipe-logix.com) Slowing demand and economic uncertainty caused line pipe prices to inch down in May before the US announced higher steel tariffs. US line pipe prices fell to $2,575/short ton (st) in May, a 1.2% decrease from a month earlier and the first decline since last September. Import prices fell by 1% to $2,258/st in May. Domestic line pipe prices fell by 1.3% to $2,892/st. The initial shock from the 25% US import tariff began to wane in May, and inventory levels for some grades grew. On 30 May, President Donald Trump announced steel import tariffs would double to 50% starting 4 June. Argus surveyed distributors on their market sentiment last week before Trump announced the new tariffs. The distributor’s sentiment index fell by 11 points to a negative reading of 40. Domestic line pipe shipments rose to 21,492st last month, up by about 700st compared to March. The US benchmark oil price was $60.79/bl on 30 May, up by $2.58/bl from a month earlier. Natural gas was $2.85/mn-Btu on 30 May, down from $3.12/mnBtu a month earlier. The US rig count fell to 563 last week, down by 23 from April and the lowest since November 2021.