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Line pipe market outlook gloomy in the USA - 14 June 2012

American market sources who spoke to Platts SBB on Wednesday had very few positive things to say about the line pipe market.

“Gray clouds everywhere,” said one southern trader. “Most (traders) are very hesitant to take positions with daily negative news.” He added that mills are desperate to maintain market share and allowing pricing to slip.

A second southern trader added that there will likely be “no real improvement this year.”

A midwestern trader blamed the state of the market on oversupply, which is evident in both domestic and imported products, and the weakness of the HRC market.

“When supply outpaces demand, it makes no difference how strong demand is,” he said. “Plus, the overall mood right now stinks. All tubular products are following coil prices on the way down.”

 

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