(by Kurt Minnich, www.pipe-logix.com) Line pipe prices decreased $33/ton or 2.3% in June with domestic prices down 1.6% and import prices down 3.2%. This marks nearly two years of price declines with a cumulative decrease of 32%. Distributor’s sentiment remains low with a score of 30 for the NASPD Index in June. Improvements in sentiment for new orders and the price outlook have been partially offset by worsening inventories and import expectations. Reported import volumes are expected to have been near 66,000 tons in May, which is up slightly from April but indicators for line pipe demand, particularly the rig count, continue to slip. The Baker Hughes count averaged 274 active rigs in June, which is down 75% from the peak in 2018. The DUC count is over 7,500 wells.
Pipe Logix Line Pipe Report – Jun 2020
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