Features
Holiday notice: Memorial Day
Written by Brett Linton
May 23, 2024
Steel Market Update will be taking time off in observance of Memorial Day. We will not publish our Executive issue on Sunday, May 26.
Our offices will be closed on Monday, May 27. We will resume our regular publication schedule on Tuesday, May 28. Our weekly pricing service will not be impacted.
Brett Linton
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Domestic mill output declined last week, according to the latest data released by the American Iron and Steel Institute (AISI). While down, production remains historically strong, holding near multi-year highs since June.
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Apparent steel supply remains elevated in July
Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year
Drill rig activity ticks higher in US and Canada
Active rig counts increased in both the US and Canada last week, according to figures released by Baker Hughes. Although rising, US counts continue to hover just above historic lows. Canadian figures remain comparatively healthy, rising to a six-month high this week. Total US rig counts climbed by two week over week (w/w) to 539. […]