Analysis
July 11, 2025
Written by Brett Linton
US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.
The US rig count fell by two this week to 537 rigs, the lowest level since late 2021. Compared to one year ago, 47 fewer rigs are in operation today.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations.
SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...