(by Kurt Minnich, www.pipe-logix.com) Line pipe prices were up $143/ton or 7.6% in May with 9 items tracked by Pipe Logix up by 10% or more. This is the eighth consecutive month of price gains with a cumulative increase of $693/ton or 52%. Sentiment continues to be extremely bullish with the NASPD Index scoring 81 in May, the 5th consecutive month of scores over 70. All distributors expect prices to continue to increase in the near-term and most are experiencing increased order volume. Hot rolled coil prices continue to surge , up 150% since the start of 2020. Reported shipments of line pipe are estimated to have been 83,000 tons in April, down from the previous month but on par with the trailing 12-month average. Oil and gas prices continue to trend up and averaged $65/bbl and $2.9/mmbtu, respectively, in May. The rig count is also trending up and the DUC well count is declining. The details are in the report.
Pipe Logix Line Pipe Report – May 2021
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