Analysis
July 20, 2025
Written by Brett Linton
Drilling activity increased in both the US and Canada for the week ended Friday, July 18, according to the latest data from Baker Hughes.
Following 11 consecutive weekly declines, the US rig count rose by seven rigs week over week (w/w). Prior to this, US drilling activity had fallen to its lowest level since late 2021. There were 42 fewer rigs operating in the US last week vs. one year prior.
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...