(by Kurt Minnich, www.pipe-logix.com) Line pipe prices increased $11/ton or 0.8% in October as domestic prices gained 1.5% and import prices were unchanged. ERW prices increased 2% for domestic items and 0.7% for import items. This is the first increase in the Pipe Logix Index since mid-2018 and brings to an end a 33% decline in line pipe prices. Distributor’s sentiment continues to improve with the NASPD Index scoring 60 in October, up from 50 the previous month and indicating an expanding market environment. Three of the seven components of sentiment are now scoring over 50 including the Price Outlook, which jumped to a score of 79 in October. Reported US shipments of line pipe remain low, estimated at 74,000 tons in September, which is down 55% from a year ago. The drilling rig count increased 9% in October and while oil and gas prices remain weak, HRC steel prices have increased significantly in the past two months. The details are in the report.
Pipe Logix Line Pipe Report – October 2020
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