Pipe and tube market looks for bottom

Jul 24, 2012 | 03:48 PM | Michael Cowden

Tags  steel tube, steel pipe, hollow structural sections, HSS, oil country tubular goods, OCTG, line pipe, Michael Cowden

TORONTO — Pipe and tube prices across both the structural and energy sectors have mostly weakened or remained flat this month as market sources debate whether the market has bottomed out or might still have room to fall.

On the energy front, a glut of both domestic and imported material has saturated even the currently strong market for tubulars, market sources told AMM.

Meanwhile, the structural tubing market remains weak, plagued by a lack of demand and too much capacity, most market sources agreed.

"We’ve got a typical slowdown in activity," a source at one non-energy tubular distributor said. But he questioned whether 2012 would see the rebound that sometimes occurs in the third quarter, especially given discouraging jobs data and less-than-stellar demand from most sectors outside of automotive.....

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