(by Kurt Minnich, www.pipe-logix.com) Line pipe prices were 0.7% lower in August with domestic prices down 0.6% and import prices down 0.7%. This is the 25th month of price declines and a 13% decline realized just this year. All items tracked by Pipe Logix priced lower in August except large diameter seamless, which increased 1.3% for domestic items and 0.3% for import items. Distributor’s sentiment improved slightly in August but remains deeply contracting. The NASPD Index of sentiment scored 35 in August, which is up from 32 the previous month but far below a neutral score of 50, and therefore still a contracting market indicator. All but two of the seven components to the NASPD Index were below 50 in August. Reported volumes are expected to have been significantly lower in July with imports around 56,000 tons compared to a trailing average of 88,000 tons per month. Oil and gas prices improved slightly in August and the rig count declines have slowed.
Pipe Logix Line Pipe Report – August 2020
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