(by Rye Druzin, www.pipe-logix.com) Line pipe prices declined by 0.6% in April with domestic prices down by 0.3% and import prices down by 1%. This is the 11th consecutive month of price decreases, though the rate of declines continues to slow. Distributor’s sentiment fell in April, reversing two months of increases, with the NASPD Index falling by seven points to 48. Pricing expectations, as a component of sentiment, plunged by 29 points to 42, the lowest reading since January. Supply and demand balance edged up by two points to 50, while order fulfillment fell by eight points to 46. Line pipe supply is estimated to have been down in March at 128,800 short tons (st), according to preliminary Department of Commerce data. Oil prices increased by 9.5% in April compared to the prior month, while natural gas prices fell by 10%. Hot-rolled coil (HRC) prices rose by 4% in April as prices appeared to peak after steel companies pushed prices up for four consecutive months. The rig count edged down by one to 751.
Pipe Logix Line Pipe Report – April 2023
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