Importers paring inventories ahead of Texas tax

Oct 17, 2011 | 06:46 PM | Catherine Ngai

Tags  importers, steel, Texas, Houston, Harris County, appraisal district, property tax, inventory catherine ngai

NEW YORK — Steel importers are shaving inventories and preparing for a further thinning of already-lean order books ahead of the Harris County, Texas, year-end inventory tax, which levies a fee on products on the ground.

"It’s always an issue," one trader said. "For the most part, our customers prefer not to take deliveries towards December because whoever holds inventory has to pay for it. Everyone has to take that into account when they’re getting business." ....

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