MRC Global sees ERW line pipe prices bottoming out

Feb 21, 2014 | 07:55 PM | Thorsten Schier

Tags  steel, energy market, ERW line pipe, MRC Global Inc, pricing, elecgric-resistance-weld line pipe, Andrew R. Lane, James E. Brown acquisitions

NEW YORK — MRC Global Inc. saw pricing pressures in the electric-resistance welded (ERW) line pipe market continue during the fourth quarter, though pricing is now expected to have bottomed out.

"ERW (line pipe) prices were under pressure all year long last year and we really think it’s slowed and close to bottoming in the fourth quarter, but the level of the cost here and the spot market price was much lower in the fourth quarter than the first quarter," chairman, president and chief executive officer Andrew R. Lane said during a conference call with reporters and analysts.....

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