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This supply-demand imbalance means welded tube prices in Europe have remained low and trader and producer balance sheets are suffering.
And, so far, there has been little movement towards consolidation or capacity reduction in this market.
However, in the past few weeks, there has been a flurry of speculation over the future of Spanish steel tube manufacturing group Condesa.
Condesa sold its Alessio Tubi operation in Italy at the end of May and now the market is watching closely for what will happen to the rest of the group – and what this might mean for Europe’s struggling welded tube market.
In this video, Steel First speaks to Metal Bulletin Research’s tube and pipe principal consultant James Ley to find out what factors are influencing Europe's welded tube market at the moment.
To see the video click here.
To get free samples of James Ley’s Metal Bulletin Research analysis of the tube & pipe markets click here.
Europe's market for carbon steel welded tube has suffered from overcapacity, low demand and low prices since the financial crisis of 2008-09 caused construction activity to plummet.