SBQ tags weaken on slow demand, destocking
Oct 16, 2012 | 03:52 PM
| Corinna Petry
CHICAGO With demand expected to wind down over the next 10 weeks, buyers of hot-rolled and cold-finished special bar quality (SBQ) products are sitting on the sidelines as they wait for prices to bottom, which they anticipate will happen in December.
Meanwhile, Octobers market for SBQ has been weaker for some than Septembers, which was already weaker than it was a year earlier.
"The market will be soft through the end of the year, as theres nothing to spur it along," a bar distributor in the lower Great Lakes predicted. "The Marcellus Shale has seen a pickup, but theres too much overstock. Its a slugfest between the mills and between the distributors (to grab orders)."....
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