Analysis
June 20, 2025
Written by Brett Linton
Oil and gas drilling activity declined in the US again this week, while the Canadian rig count improved, according to Baker Hughes.
The US rig count declined by one this week to 554, the eighth-consecutive weekly decline and the lowest rate seen since November 2021. Compared to the same week last year, 34 fewer rigs are in operation today.
Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.
Fresh off SMU Steel Summit 2026, we are already looking ahead to Tampa. Join industry peers on March 7–9, 2027, for the 38th annual Tampa Steel Conference in Tampa, Florida. The event brings together steel producers, distributors, service centers, ports, logistics providers, and market experts to connect, exchange perspectives, and take the pulse of the […]
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
This October, SMU is introducing a new way to keep you informed on the latest steel market news and insights: the Daily Digest. Beginning in mid-October, our new Daily Digest will replace the three newsletters currently delivered each week.
The US Commerce Department has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from South Korea.