Market Segment
December 5, 2025
Written by Ethan Bernard
US and Canadian rig counts both increased this week, according to the latest Baker Hughes data released on Friday, Dec. 5.
The rig count is significant for the steel industry, as it is a leading indicator of demand for oil country tubular goods (OCTG), a key end market for steel sheet.
U.S. Steel on Wednesday proposed a new, five-year labor contract to the United Steelworkers (USW) union – one that would run from Sept. 1, 2026, to Sept. 1, 2031.
Canadian Prime Minister Mark Carney has threatened legal action against Cleveland-Cliffs over the layoffs announced earlier this week at its Stelco mill in Hamilton, Ontario.
Steel trade groups applauded the US Trade Representative’s (USTR's) unveiling of "The Milwaukee Framework" to fight global excess steel capacity.
The Commerce Department has made its preliminary findings in the anti-dumping portion of the trade case investigating large-diameter graphite electrodes (LDGE) from China and India. The agency found that LDGEs from both countries are being, or are likely to be, sold in the US at less-than-fair-value.
The US Department of Commerce has determined that the anti-dumping duty (AD) suspension agreement on cut-to-length plate imports from Ukraine should not be sunset.