May 2012 | Seamless Steel Tube & Pipe
More downside risk in seamless pricing this mont: Latest Analysis
The UAE and Saudi Arabia’s PMIs were strong this month, but a $35/tonne decline in the GCC’s billet import price since mid-March indicates that seamless tube and pipe pricing in the region may lose momentum.
US seamless pipe and tube prices are under pressure by slipping demand and raw materials prices, although seamless is holding up much better than ERW pipe demand. Fluctuations in drill rig count has been concerning, but the pipe mills who are serving companies drilling for oil and natural gas liquids continue to see strong orders. Prices...
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