THE STANDARD PIPE MARKET

摘要

We noted last month that standardpipe had the largest deficit in shipmentvolumes when compared to the same periodlast year, of any pipe and tube product. TheMay over May comparison was closer at a 6%deficit for the current year. This compares ayear-to-date unfavorable position of about20%. Indications from June data suggest areturn to a more unfavorable comparison. So,what is going on? Our research continues butwe can point to certain topics that could havean influence we just haven’t been able to tiethem directly together. First, the AmericanInstitute of Architects (AIA) published the JuneArchitectural Billings Index (ABI) which is a 9– 12 month leading indicator of constructionactivity. The overall number for June was49.1 indicating contraction. More importantly,a look at the chart provided in the pressrelease suggests that the prospects turned flatto down starting in February.