THE STANDARD PIPE MARKET

摘要

We’ve addressed the linepipe/standard pipe substitution often and inthe context of shipments, it is unfair tocompare 2018 shipment levels with 2017when more of that substitution has takenplace this year. Take a look at the monthlyshipment comparison. Could this possiblymean the 232-inventory build is now workedoff? Certainly, high use sizes are gone. Takeanother look at the grow in domesticshipments, these are shipments sold by ERWproducers at yesterday’s HRB prices.Remember HRB hit $920/ton as a high,maybe not quite that high for a big-time pipeproducer but certainly gives you an idea.Suffice it to say the domestic producers havepicked up the slack in demand and filledinventory holes. With the 25% tariff they havebeen able to remain competitive and theirinput cost is turning in the right direction forthem going forward.