THE STAINLESS PIPE AND TUBE MARKET

摘要

With 2018 now final we are lookingto get imports for the first of the year in thesame status. Currently, while January andFebruary imports are still license-based, wedon’t expect them to be too far off the finalnumber. The year is off to a slow start andwe are not surprised that this sector reflectsthe reality of the current economic situation.The US GDP growth forecast is just under0.5% for the quarter. In addition, the energysector is dragging activity downward. Therig count is down 57 from the peak just 3months ago and indictations are thatspending will continue to be weak foranother 6 months as E&Ps sort out the oilprice drivers. Oil prices have bounced backup but to see spending make a move themarket will need to prove out that trend withthe test of time. All is not doom and gloom.From a supply standpoint, the importvolume indicator for March, with less thanhalf of the month tallied, shows a strongermonth in store if the license pace holds. Ifthis turns out to be demand re-emerging,that’s good news.