(by Kurt Minnich, www.pipe-logix.com) Line pipe prices increased $80/ton or 3% in September with domestic prices up 2.6% and import prices up 3.5%. Seamless prices gained the most with domestic seamless up 4.3% and import seamless up 5.6%. This marks the 12th month of consecutive increases in the Pipe Logix Index and a cumulative gain of 105%. Distributor’s sentiment softened but remains bullish with the NASPD Index scoring 73 for September, down from 80 the previous month. Several components to the NASPD Index eased in September but only Import Volume Expectation has turned clearly bearish. Reported import volumes averaged 53,000 tons/month over the trailing 12 months ending in July, which was down 32% from the previous period, however early license data for September indicates volumes could be up 20%. The active rig count continues to notch small monthly gains with oil averaging $71/bbl in September and natural gas at $5.2/mmbtu. The number of DUC wells has declined dramatically and is now on par with levels witnessed in 2017. Hot rolled coil prices remain a key price driver for line pipe with current HRC prices up 3-fold compared to a year ago. The details are in the report.
Pipe Logix Line Pipe Report – September 2021
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