NEW YORK MRC Global Inc. expects activity in the midstream market to pick up during the second quarter after the company saw a first-quarter slowdown due to colder winter weather.
"May, June is really the best time for us in midstream," chairman, president and chief executive officer Andrew R. Lane said during the companys earnings conference call May 3, adding that "the weather really hurt us early on."
The weather also created a backlog of projects, Lane said.
In terms of pricing, Lane said the company is seeing some pressure on spot prices for electric-resistant welded (ERW) line pipe, while seamless line pipe tags are stable.
Overall, the Houston-based distributor of pipe, valves and fittings sees a much stronger performance ahead. "Were definitely projecting a much stronger second half than ... the first half," Lane said.