(by Rye Druzin, www.pipe-logix.com) Us line pipe prices fell on the back of declining import prices in October. The Argus line pipe index declined by $9/short ton (st) to $2,548/st for October, erasing a slight gain made in the prior month. The import line pipe index dropped by $21/st to $2,238/st, with most of those declines coming from lower smaller diameter welded and seamless pipe prices. The domestic line pipe index was essentially flat, edging up by $4/st to $2,858/st, boosted by higher larger diameter seamless pipe prices. The Argus distributor’s sentiment index fell by four points to a more negative neutral reading of 45, the lowest since May. The price outlook fell deeper into negative territory, down by six points to a negative reading of 28. The US benchmark oil price was down by 0.8pc from a month earlier to $63.53/bl in September. Natural gas was $3.01/mnBtu, up from $2.89/mnBtu a month earlier. The US rig count rose to 549 for the week ending 26 September, up by 13 from the end of August.