SBQ tags weaken on slow demand, destocking

Oct 16, 2012 | 03:52 PM | Corinna Petry

Tags  special bar quality, SBQ, steel prices, SBQ inventories, steel demand, hot-rolled bar, cold-finished bar, 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, October’s market for SBQ has been weaker for some than September’s, which was already weaker than it was a year earlier.

"The market will be soft through the end of the year, as there’s nothing to spur it along," a bar distributor in the lower Great Lakes predicted. "The Marcellus Shale has seen a pickup, but there’s too much overstock. It’s a slugfest between the mills and between the distributors (to grab orders)."....

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