(by Kurt Minnich, www.pipe-logix.com) Line pipe prices were up 3.7% in November with domestic prices up 4.5% and import prices up 2.5%. Prices for seamless items increased dramatically including a 14% gain for the price of 2 inch seamless domestic. On average, domestic seamless prices increased by 9.7% and prices for imported seamless were up 4.9%. ERW prices weakened for the month with domestic ERW prices down 1.5% and imported ERW prices down 0.7%. The overall Pipe Logix Index was $2,943/ton in November, having increased 120% over the trailing 14 months. Distributor sentiment decreased for the third consecutive month. The NASPD Distributor’s Index scored 59 for November, down from 66 the previous month and a peak of 80 in August and 82 in June. All components of the index eased in November though still scored over 50, a bullish signal, except import volumes, which scored just 21. Reported shipments of line pipe surged to 133,200 tons in September and are expected to have been 99,000 tons in October, well above the trailing average. The rig count was up 4% in November from the previous month and was double the rig count of a year ago. Oil price averaged $80/bbl and natural gas averaged $5/mmbtu in November, which is double the prices experienced a year ago. The DUC count continues to decrease and is now below the previous low in 2016. HRC prices have eased for the second consecutive month but are still 3 times the price of a year ago. The details are in the report.
Pipe Logix Line Pipe Report – November 2021
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com