Pipe, tube prices fall as OCTG hit by supply glut

Nov 06, 2012 | 05:22 PM | Michael Cowden

Tags  steel tube, steel pipe, OCTG, line pipe, HSS, standard pipe, Michael Cowden

CHICAGO — Steel tube and pipe prices have fallen across the board in recent weeks as oversupply and weakening demand have hit energy tubular tags, market sources said.

At the same time, it remains to be seen whether announced hikes for welded products such as hollow structural sections (HSS) and standard pipe will boost prices or prevent further declines outside of the energy sector, they said.

Market players appeared divided over the direction of the market in general, with roughly half of respondents to a recent survey characterizing demand as "good" and the remainder split between "fair" and "poor." A similar divide emerged on the pricing front, with about 50 percent of respondents saying they expect prices to continue to move downward in coming weeks while the other half believe prices will either hold steady or rise.....

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