The Energy Information Administration’s November Short-Term Energy Outlook (STEO) forecasts oil prices to remain near current levels throughout the year, while natural gas prices could experience volatility as winter temperatures drive demand and prices. The EIA notes that evolving effects of consumer behavior on energy demand present a wide range of potential outcomes for energy consumption. Spot Prices The spot […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor, Nov. 10 Global sheet prices have continued to fall, though declines have not been consistent across all regions. Overall, CRU’s Global Flat Products Steel Price Indicator (CRUspi flats) fell for the second consecutive month, declining by 2.9% and is now at its lowest […]
The number of active oil and gas drill rigs increased in U.S. this past week, while Canadian rig counts declined, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The number […]
Steel tube producer Tenaris saw global sales jump 15% sequentially to $1.75 billion in the third quarter of 2021, with sales 73% above the same year-ago quarter. The successive increase in Q3 was driven by an 8% increase in volumes, aided by a 6% increase in selling prices. Sales surged by 28% in North America to […]
The number of active oil and gas drill rigs decreased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
The Energy Information Administration’s October Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. That big caveat aside, the increase in economic activity continues to contribute to rising energy use. EIA expects average expenditures for heating fuels to increase significantly in the next several months from […]
Oil prices topped $80 per barrel this week for the first time since 2014, likely giving a boost to drilling activity and consumption of steel products such as line pipe and oil country tubular goods (OCTG). But don’t expect a big spike in the market. “The recent increases in oil and gas prices are certainly […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number […]
Editor’s note: Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, email Info@SteelMarketUpdate.com. The Energy Information Administration’s August Short-Term Energy Outlook remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic. That big caveat […]
The number of active oil and gas drill rigs increased in the U.S. this past week, while Canadian rigs declined, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number […]
The Energy Information Administration’s August Short-Term Energy Outlook remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic. That big caveat aside, the increase in economic activity continues to contribute to rising energy use. EIA anticipates a mostly balanced global oil market for the remainder of 2021. Crude oil […]
The number of active oil and gas drill rigs slipped in the U.S. yet increased in Canada this past week, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
Reliance Steel & Aluminum Co.’s sales soared to a record of $3.42 billion in the second quarter on shipments of 1.424 million tons. Sales were up 20.4% from the previous quarter and up 69.3% from the same period last year. The record-setting results for the largest service center in North America were due primarily to the […]
The number of active oil and gas drill rigs increased again this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of […]
The Energy Information Administration’s July Short-Term Energy Outlook remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic. That big caveat aside, the increase in economic activity and an easing of the pandemic have contributed to rising energy use. EIA anticipates a mostly balanced global oil market for the […]
Prompted by rising energy prices, the number of active oil and gas drill rigs increased again this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular […]
SSAB Americas President Chuck Schmitt joined SMU for a Community Chat webinar last week during which we talked plate, renewable energy and fossil-free steelmaking. We also got to some good questions from you about the hydrogen-based steelmaking SSAB is undertaking in Sweden through its HYBRIT partnership with iron ore miner LKAB and power producer Vattenfall. […]
The number of active oil and gas drill rigs increased this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
Infrastructure, Energy, Wind Farms, Tanners, Summit Conference, Imports. If you are watching the news, you are aware of the Biden administration’s push for a large (at least $1 trillion) infrastructure bill. There is a lot of discussion about what infrastructure entails in light of the current economy. It’s not your father’s economy. There is need […]
The number of active oil and gas drill rigs decreased this past week for the United States, while the Canadian rig count jumped 24%, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. […]
The number of active oil and gas drill rigs increased this past week for the United States, while the Canadian rig count declined, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The […]
The number of active oil and gas drill rigs increased this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
In a surprise announcement, U.S. Steel said it is canceling the endless casting and cogeneration project at Mon Valley Works. The company has already spent $170 million on the $1.3 billion project. “This is not the end of Mon Valley,” President and CEO David Burritt emphasized during the first quarter earnings call on Friday. The […]
The number of active oil and gas drill rigs declined slightly this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of […]
Metals distributor Russel Metals and Marubeni-Itochu Tubulars America, Inc., plan to merge their Canadian OCTG/line pipe businesses. The new entity will be a 50/50 joint venture named TriMark Tubulars Ltd, a combination of Russel’s Triumph Tubular & Supply Ltd and MITA’s Hallmark Tubulars Ltd. The merger is a result of changing business conditions for the […]
TriMark Tubulars is a new brand in the market, but not a brand new competitor. Russel Metals and Marubeni-Itochu Tubulars America Inc. have combined their Canadian oil country tubular goods (OCTG) and line pipe businesses into a joint venture that will be better equipped to handle the challenging conditions in the energy market. Russel Metals […]
The number of active U.S. rotary drill rigs continued to increase this past week, while the Canadian rig count declined, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
The number of active U.S. rotary drill rigs increased this past week, while the Canadian rig count declined, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs […]