The ongoing conflict in the Middle East has led to higher and more volatile energy prices, and impacts on numerous other commodity markets – in particular fertilizers and aluminum. If disruption to Middle Eastern supply continues, this will have a serious negative impact on the global economy.
Chinese steel export prices and Turkish longs export prices increased this week due to higher energy and raw material costs. In India, HR coil exports remained paused amid the Middle East crisis.
Crude-oil and natural-gas prices spiked, metals opened higher and some fertilizer benchmarks climbed after the US and Israel launched a “pre-emptive” strike on Iran, killing the supreme leader and plunging the region into chaos.
Former smelter sites have become increasingly attractive to data center developers competing for electricity to support AI.
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through December
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
Hardly a day goes by without someone writing about the expected rise in US electricity demand. This demand is largely driven by data center and AI’s appetite for power.
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
An analysis of the North American energy market in May.
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stocks. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
In this Premium analysis we explore North American oil and natural gas prices, drilling activity, and crude oil stock levels.
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and active rig counts are leading demand indicators for oil country tubular goods (OCTG), line pipe and other steel products.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advance indicator of demand for oil country tubular goods (OCTG), line pipe and other steel products.
In this Premium analysis we cover oil and natural gas prices, drilling rig activity, and crude oil stock levels in North America. Energy prices and rig counts are advance indicators of demand for oil country tubular goods (OCTG), line pipe, and other steel products.
Oil and gas drill rig activity in the US inched lower last week while holding steady in Canada, according to the latest report from oilfield services provider Baker Hughes.
This Premium analysis covers North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advanced indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. Trends in energy prices and rig counts are an advanced indicator of demand for oil country tubular goods (OCTG), line pipe, and other steel products.
Crude oil prices are forecast to ease slightly through the remainder of the year, while natural gas prices are expected to move higher following recent lows
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Happy St. Patrick’s Day. “To govern is to choose.” Those words, reportedly first uttered by the late French Premier Pierre Mendes-France in the 1950s, resonate vividly in our time. It means that choices have consequences and that priorities must be set based on goals. Interested parties, in and out of government, raise their voices in […]
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
The recession many predicted did not materialize in 2023, leading industry experts in several key end-user markets for steel cautiously optimistic for 2024.
SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.
Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower […]
Worthington Industries’ plan to split into two separate companies by early 2024 is full-steam ahead, and the man getting ready to helm the ship of the new Worthington Steel is Geoff Gilmore. Gilmore joined Worthington in 1998, and has served as EVP and COO since August 2018. He will be the CEO of Worthington Steel, […]
Steel prices continued to erode in May, following a trend that began halfway through the previous month. Hot-rolled coil (HRC) prices ended May at $990 per ton ($49.50 per cwt) on average, falling by $130 per ton throughout the month. The SMU Price Momentum Indicator for sheet products remained Lower during May after shifting to […]
Steel prices peaked at the start of the month, with hot-rolled coil reaching $1,160 per ton ($58 pet cwt) on average on April 10. Tags began to decline near the month’s halfway mark and closed out the month $40 per ton lower at $1,120 per ton. The SMU Price Momentum Indicator for sheet products was […]
The US and Canadian rig counts decreased again last week, but they remain elevated compared to a year ago, according to data from oilfield services company Baker Hughes. The total US rig count was 753 last week, down seven rigs from the week prior. The number of active oil rigs in the US fell to 600 […]