OCTG overcapacity worries overblown: execs
Feb 06, 2013 | 02:50 PM
| Thorsten Schier
NEW YORK The steel industrys worries about significant overcapacity in the oil country tubular goods (OCTG) market might be overdone, as announced expansions and new projects will displace older capacity, according to top industry executives.
"Its efficient capacity. It displaces old, inefficient mills that should be dead and gone. Its capacity that services our customer base in the way they need to be servicedwith quicker deliveries, with better products, with heavier products, with lighter gauges," Barry Zekelman, executive chairman of Chicago-based JMC Steel Group Inc., said during a panel discussion at AMMs sixth annual Steel Tube and Pipe Conference in Houston, adding that the capacity additions will displace "lower-hanging fruit." ....
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