Construction-grade tube prices are sliding in the US market as master-level distributors sell off excess inventory, sources report.
“A lot of people are deciding to write off the year,” one source reported. “There’s no demand for anything, so they don’t want to carry the inventory.”
One trader told Steel Business Briefing Tuesday that she was unable to compete with domestic distributors’ current price levels.
She added that a recent quote of $960/short ton fob port for ERW carbon tubulars was rejected in favor of a domestic $900/s.t offer – including delivery to the buyers’ warehouse.
“The domestics are selling their inventories right now lower than we are able to import,” she said. “We think perhaps this is because there is no demand and some of the masters need to get rid of material, even if it’s at a lower cost.”