The US and Canadian rig counts decreased slightly last week, but they remain sharply up compared to a year ago, according to data from oilfield services company Baker Hughes. The total US rig count was 760 last week, down one from the week prior. The number of active oil rigs in the US slipped to 607 […]
Evraz North America Inc. said it would lay off workers in Canada because of high volumes of low-priced imports. The company noted that “unfairly traded imports” continue to negatively impact its Canadian operations. “Due to these imports, and starting next month, Evraz North America will make production adjustments that will regrettably result in layoffs at its Canadian […]
The Canadian rig count increased again, and US rig count was unchanged, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key end-market for steel […]
Canadian drilling rig numbers rose again this past week, while the number of working rigs in the US edged down slightly, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country […]
Canadian drilling rig numbers continue to climb, and the number of working rigs in the US is back up, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods […]
Canadian drilling rig numbers have made a post-holiday rebound, while working rigs in the US declined, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key […]
The number of active Canadian drilling rigs dropped for the second week in a row, while rigs in the US stayed the same, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for […]
The number of active Canadian drilling rigs dropped significantly this week, while rigs in the US increased slightly, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), […]
The number of active drilling rigs dipped this week in the US and in Canada, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG), a key […]
ArcelorMittal has joined the effort initiated by Cleveland-Cliffs to increase spot prices for steel sheet by at least $50 per ton ($2.50 per cwt). The move is effective immediately for material from AM/NS Calvert, the steelmaker’s joint venture mill in Alabama with Japan’s Nippon Steel. “We reserve the right to modify any outstanding quotations,” the […]
The number of active drilling rigs remained flat this week in the US and increased by one in Canada, according to data from oilfield services company Baker Hughes. Counts have been trending in different directions in recent weeks. Drilling activity in the US continues to improve, although it is still not back to pre-Covid levels. The […]
Stelco Holdings Inc. intends to increase spot prices for carbon steel sheet by at least CAD $80 per ton (USD $60 per ton or $4 per cwt). The move is effective immediately, the company said in a letter to customers on Tuesday, Nov. 29, and applies equally to all new orders of hot-rolled, cold-rolled, and […]
The number of active drilling rigs increased this week in both the US and Canada, according to data from oilfield services company Baker Hughes. Counts have been trending in different directions in recent weeks. Drilling activity in the US continues to improve, although it is still not back to pre-Covid levels. Canadian rig counts have been […]
Steel market conditions might be tough for the balance of the year, but Stelco sees the early signs of better times in the first quarter. The Hamilton, Ontario-based integrated sheet producer is also keeping a keen eye out for potential distressed acquisitions, company executives suggested during an earnings conference call with analysts on Wednesday, Nov. […]
Canadian steelmaker Stelco posted sharply lower earnings in the third quarter on falling steel prices and higher raw material tags. The Hamilton, Ontario-based integrated sheet producer expects lower prices and short lead times to characterize the market through the end of 2022. “Despite market headwinds driven by cost inflation and a further deterioration in steel […]
The number of active drilling rigs was mixed this week, with counts increasing in the US and falling in Canada, according to data from oilfield services company Baker Hughes. Activity in the US and Canada has held steady in recent weeks but is not quite back to pre-Covid levels. The number of oil and gas rigs […]
The number of active drilling rigs were mixed this week, with counts increasing in the US and falling in Canada, according to data from oilfield services company Baker Hughes. Activity in both the US and Canada has leveled out over the last two weeks and is not quite back to pre-Covid levels. The number of […]
The number of active drilling rigs declined in the US this week, while Canadian counts increased, according to data from oilfield services company Baker Hughes. Activity in both the US and Canada has leveled out in recent weeks. The number of oil and gas rigs in operation is important to the steel industry because it […]
With a total investment of $150 million Canadian (US$109.9 million), Tenaris recently consolidated its seamless and welded pipe manufacturing operations in Canada into one location in Sault Ste. Marie, Ontario, to better serve the country’s energy sector. An inauguration ceremony with company executives, customers, employees, and government officials was held on Sept. 27 to mark […]
JFE Shoji continues to invest and expand in North America. JFE Shoji Power Canada Inc. announced it will invest $20 million over the next 18 months to expand production of electrical transformer cores for use in oil-filled distribution and larger power transformer markets. This will increase its use of electrical steel, a product which is […]
The number of active drilling rigs increased in both the US and Canada this week, according to data from oilfield services company Baker Hughes. The number of oil and gas rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG). The number […]
The number of active drilling rigs declined in both the US and Canada this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of demand for oil country tubular goods (OCTG). […]
Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]
Canadian flat-rolled steelmaker Stelco Inc. confirmed the renewed five-year collective bargaining agreements it reached with each of its United Steelworkers (USW) locals. Stelco’s workforce represented by USW Local 1005 (Hamilton Works), USW Local 8782 (Lake Erie Works), and USW 8782b (Lake Erie Works Pickle Lines), have all voted in favor of agreements that expire on […]
United Steelworkers (USW) union Local 8782 has ratified a new, five-year labor agreement with Canadian flat-rolled steelmaker Stelco. The move effectively concludes a summer of protracted contract negotiations between Hamilton, Ontario-based Stelco and the USW. Local 8782 reported that 67% of its members voted in favor of the contract in update to members on Friday, […]
The number of active drilling rigs in the US and Canada was relatively flat in both countries this week, according to data from oilfield services company Baker Hughes. The number of active oil and gas drilling rigs in operation is important to the steel industry because it is a leading indicator of demand for oil […]
Canadian flat-rolled steelmaker Stelco has reached a tentative agreement with one local union, and another has ratified a new, five-year labor contract with the company. The negotiating committee for United Steelworkers (USW) Local 8782 broke the news that it had agreed to tentative pact in an update to members on Wednesday, Aug. 17. USW Local […]
United Steelworkers (USW) Local 1005 is set to hold a ratification vote on a proposed labor contract with Stelco on Wednesday, Aug. 17. Details of the new contract were presented to union members on Monday, Aug. 15. USW members at the Canadian steelmaker’s mill in Hamilton, Ontario, had been in a legal position to strike […]
Stelco and United Steelworkers (USW) Local 1005 have at least temporarily avoided a labor disruption at the Canadian steelmaker’s mill in Hamilton, Ontario. The two parties are working toward an agreement on a new labor contract, details of which will be presented to union members on Monday, Aug. 15. “The strike deadline has been suspended. […]
Canadian steelmaker ArcelorMittal Dofasco aims to increase spot market base prices for steel sheet by at least $65 per ton CAD (~$50 per ton USD). The Hamilton, Ontario-based company said the price hike was effective immediately and applied equally to hot-rolled, cold-rolled and coated products. “We reserve the right to re-quote any previously quoted offer […]