Category: Canada

Brazilian miner Vale SA has entered into a Memorandum of Understanding (MoU) with Australia-based Cyclone Metals Ltd. to develop the Iron Bear iron ore project in Eastern Canada.

The number of active oil and gas rigs ticked lower in both the US and Canada last week, according to the latest data released from Baker Hughes.

US counts have hovered in this territory since June, just above multi-year lows. Canadian counts have trended lower since early October but remain historically high.

The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.

Cleveland-Cliffs swung to a steep loss in the third quarter. However, it touted the recent closing of its acquisition of Stelco in its quarterly earnings report released on Monday and said steel demand should bounce back early next year.

Canada’s Stelco Holdings Inc. is now officially owned by Cleveland-Cliffs Inc.

US rig activity has been historically weak since June, hovering just above multi-year lows for four months. Canadian counts have ticked lower in recent weeks but remain strong.

Cleveland-Cliffs has received all the required approvals to finalize its $2.5-billion acquisition of Canadian steelmaker Stelco Holdings Inc.

US drill rig activity remains near multi-year lows, hovering within a narrow range over the last five months. Canadian counts have stabilized in recent weeks but remain near some the highest levels recorded in the past seven months.

The Canadian government announced a remission process for businesses for recently announced tariffs on Chinese steel and aluminum products and electric vehicles .

US rig counts continue to hover near multi-year lows, a trend observed since July. Canadian activity remains strong, just a few rigs shy of a seven-month high.

US drill rig activity saw a slight increase from last week but continues to hover near multi-year lows. In Canada, rig counts dipped last week but near one of the highest levels recorded in the past seven months.

Stelco Inc. said that the Canadian Competition Bureau will not challenge Cleveland-Cliffs’ pending buy of the Hamilton, Ontario-based steelmaker.

Cleveland-Cliffs has cleared a regulatory hurdle for its pending purchase of Canadian steelmaker Stelco Inc.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.

US drilling activity remains near multi-year lows, while Canadian counts increased to one of the highest levels recorded in seven months.

The United Steelworkers (USW) union has named Kevon Stewart to be director of District 6, which represents members in Ontario and Atlantic Canada. The USW said that appointment was effective on Oct. 1. It also noted that Stewart became the first black district director in the union – not only in Canada but in the United States as well.

Drilling activity eased in the US last week, while Canadian counts increased, according to the latest data release from Baker Hughes.

US rig counts remain near multi-year lows, which is the territory they have been in for the last three months. Canadian counts have edged lower in the past two weeks, slipping from a six-month high earlier this month.

Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.

Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.

Oil and gas drilling activity in the US recovered the week ended Sept. 13, but remains near multi-year lows.

SMU has compiled a list of key dates to watch out for in the expansive trade case filed last week targeting corrosion-resistant steel imports.

Oil and gas drilling activity in the US edged lower last week, while the Canadian rig count held steady at a six-month high.

In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.

SMU Senior Analyst and Editor David Schollaert sat down with leading steel service center executives at the SMU Steel Summit 2024 in Atlanta to discuss the issues affecting the industry.

We had a wonderful time at last week’s Steel Summit Conference, seeing so many familiar faces and catching up with friends within the industry.

Active US drill rig counts eased further last week while Canadian activity hit a near six-month high, according to the latest data release from Baker Hughes.

Day one and two of SMU's Steel Summit 2024 are officially in the books. We covered a lot of ground, and the agenda sure did deliver.

Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.