(by Kurt Minnich, www.pipe-logix.com) Line pipe prices decreased 2.6% in October with domestic prices down 3.0% and import prices down 2.3%. This is the 5thconsecutive month of price decreases providing a cumulative decline of 10%, however, the Pipe Logix Line Pipe Index remains 150% higher than the low experienced in 2020. Distributor sentiment slipped into bearish territory in October with the NASPD Index at 45, down from 51 the previous month. Pricing expectations, as a component of sentiment, scored 17, which is down from 25 the previous month and on par with the score in mid-2020. Supply of line pipe is estimated to have jumped 55% in September to 160,000 tons, due to a surge in imports, according to preliminary DOC data. Oil prices were slightly higher in October while natural gas prices decreased 27%. HRC price was down 4% and the rig count edged higher. Details are in the report.
Pipe Logix Line Pipe Report – October 2022
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