(by Kurt Minnich, www.pipe-logix.com) US line pipe prices decreased by 2.6% in February with domestic prices down by 2.3% and import prices down by 2.9%. This is the ninth consecutive month of prices decreases, though the rate of decline has slowed. Distributor’s sentiment was up in February with the NASPD index increasing by 10 points to 50. Pricing expectations, as a component of sentiment, jumped by 32 points to 50, the highest level since May 2022. Supply and demand balance edged up by three points to 48, while order fulfillment ticked up by five point to 46. Line Pipe supply is estimated to have been down in January at 114,600 short tone, according to preliminary Department of Commerce data. Oil Prices were down by 1.7% in February compared to the prior month, while the natural gas price fell by 29%. HRC prices jumped by 19% in February compared to the prior month as steel companies continued to push prices up for the third month in a row.
Pipe Logix Line Pipe Report – February 2023
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