(by Rye Druzin, www.pipe-logix.com) Line pipe prices declined by 2.9% in May with domestic prices down by 3.9% and import prices down by 1.5%. This is the 12th consecutive month of price decreases, with the rate of declines increasing in May. Distributor’s sentiment fell in May, the second consecutive month of declines, with the NASPD Index falling by eight points to 40. Pricing expectations, as a component of sentiment, plunged by 29 points to 13, the lowest reading since October 2022. Supply and demand balance fell by 10 points to 40, while order fulfillment fell by 13 points to 33. Inventory size rose by five points to 64, while direction increased by nine points to 64. New orders fell by eight points to 46. Line pipe supply is estimated to have been down in April at 115,400 short tons, according to preliminary Department of Commerce data. Oil prices fell by 9.8pc in May compared to the prior month, while natural gas prices rose by 4.5pc. Hot-rolled coil (HRC) prices fell by 9.3pc in May after prices peaked and mills compete for spot business. The rig count fell by 24 to 728.
Pipe Logix Line Pipe Report – May 2023
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com