Canadian
pipe manufacturer IPSCO announced this week that it plans to adjust downward its
pipe and
plate production and steel purchases in order to reduce built-up inventories.
IPSCO, which currently operates six
pipe-making facilities across western
Canada and the US, states in its press release that the company has been operating most of its facilities at near-full capacity during this robust period for the
pipe market, but will now scale back its
production to allow IPSCO “to better realign its own inventory and accelerate planned maintenance programs.”
Despite the scale back in
production, the company expects its fourth quarter shipments to remain flat compared to third quarter shipments.
The company did not specify the amount of tonnage to be taken off the market.