Manufacturers/End Users
January 2, 2025
Written by Stephanie Ritenbaugh
Turkish pipe and tube maker Borusan Mannesmann is investing $68 million in its Florida operations to bolster its US large-diameter steel pipe production.
The announcement comes a little more than a year after Borusan acquired Panama City, Fla.-based Berg Pipe Holding Group for $162 million.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel market.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Drilling activity increased in the US this week but declined in Canada, according to active oil and gas rig count figures recently released from Baker Hughes. The US rig count rose by four to 595 rigs this week, now at the highest level recorded in over two years. Canadian counts eased to a 10-week low of 197 this week, down 10 rigs from the prior week.
The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.