US line pipe prices sink again

U.S. line pipe prices sunk in May, Kallanish Energy’s sister publication, Kallanish, learns from analyst Pipe Logix.

Average U.S. line pipe prices fell by 1.5% from April to May, reaching a combined $1,757/short ton at the distribution level. Domestic prices fell by 1.5%, to $1,930/st, while import prices fell by 1.4%, to $1,584/st.

Pipe Logix said domestic welded line pipe fell by 2.8%, while import welded line pipe dropped by 2.5%.

“This marks the 10th month of consecutive declines in the Pipe Logix Index for a cumulative decline of $256/ton, or 13%, since July 2018,” Pipe Logix said.

“Actual import volumes have averaged 204,000 st over the trailing 12 months, which is up 7% over the previous 12-month period. April import volumes are estimated to have been slightly lower at 186,000 st. The rig count is down -8% from the peak in December. Hot-rolled coil prices have fallen back to 2017 levels.”

This post appeared first on Kallanish Energy News.