Canada
February 12, 2025
Written by Laura Miller
While American steelmakers welcome the revival of the Section 232 tariffs on steel and aluminum imports, other nations’ steel industries are calling for retaliation against President Trump’s unilateral action of upping the levies on trading allies and removing all product exemptions.
Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.
The latest tally of active drilling rigs increased in both the US and Canada this week, according to oil and gas rig count data published by Baker Hughes.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
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.