US line pipe prices appear to have fallen in June, led by a steep drop in domestic prices, Kallanish learns from analyst Pipe Logix.
Average US line pipe prices are now $1,710/short ton, down -2.7% from May.
Domestic prices fell to $1,857/st, down -3.8%, while import prices fell to $1,562/st, down -1.4%.
“This is the 11th month of declines in the Pipe Logix index for a total decline of -15% since July 2018. Distributor’s sentiment decreased further, highlighting a strongly contracting marketplace,” according to the company’s monthly report. “Import volumes are estimated to have been less than 150,000 tons in May, down -35% from the 12-month trailing average. The rig count has declined -10% since December, keeping the ratio of shipments to active rigs around 220 tons/rig/month.”
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