NEW YORK Average domestic distributor selling prices for line pipe fell 1 percent to $1,947 per short ton in October from $1,967 per ton the month prior, according to Pipe Logix LLC data.
Average seamless prices for the month fell 1.6 percent to $2,561 per ton from $2,603 per ton previously, while average welded tags inched up 0.2 percent to $1,333 per ton from $1,331 per ton and large-diameter seamless prices fell 3.7 percent to $3,094 per ton from $3,211 per ton in the same comparison.
Despite the price declines, there was some improvement in sentiment from distributors during the month.
"The NASPD index, a diffusion index of distributors sentiment, was 43 in October, up slightly compared with the previous month. The improvement was attributed to some expectations for higher prices over the coming months but no significant change in inventories, which were considered moderately oversupplied," Pipe Logix manager Kurt Minnich said.
Average import selling prices fell 0.9 percent to $1,598 per ton in October from $1,613 per ton a month earlier. Imported average seamless prices fell 1.4 percent to $1,590 per ton from $1,613, while average welded tags eased 0.3 percent to $909 per ton from $906 in September. Medium-diameter seamless prices fell 2 percent to $1,437 per ton from $1,466 per ton, according to Tulsa, Okla.-based Pipe Logix.