(by Kurt Minnich, www.pipe-logix.com) Line pipe prices decreased by 2.9% in January with domestic prices down 1.5% and import prices down 4.5%. This is the 8th consecutive month of price decreases. Distributor’s sentiment was down in January with the NASPD Index down by four points to 40. Pricing expectations, as a component of sentiment, were flat at 18, while supply and demand balance dropped by 14 points to 45. Order fulfillment fell by 18 points to 41. Line pipe supply is estimated to have been up in December at 166,300 tons, according to preliminary DOC data. Oil prices were up by 2.1% in January compared to the prior month, while natural gas prices plunged by 40%. HRC prices rose by 7.6% in January compared to the prior month as steel companies were able to successfully raise prices for the second month in a row. The rig count fell by 1% to 772. Details are in the report.
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