According to Baker Hughes data from November 15th, 2013, the U.S rig count for this week is 1,762 rigs exploring for or developing oil or natural gas. This count is an increase of 8 rigs when compared to last week, with oil rigs up 2 to 1,385 rigs, gas rigs up 5 to 370 rigs, […]
Cleveland, 14th November – The President of the United States today visited ArcelorMittal’s Cleveland facilities, where he met employees at the hot dip galvanising line and gave a speech on the economy. The President was welcomed to the plant by Lakshmi Mittal, Chairman and CEO. Speaking before the President, Mr Mittal said: “It’s a […]
According to Baker Hughes data from November 8th, 2013, the U.S rig count for this week is 1,754 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 7 to 1,383 rigs, gas rigs up 5 to 365 rigs, […]
Goldman Sachs steel analysts, in a letter to their clients seen by Steel Market Update, upgraded the steel sector as they feel, “…we see the sector heading to a sustainable recovery over the coming years…” They went on to tell their clients, “The supply-demand fundamentals for steel are starting to look more appealing, particularly for […]
According to Baker Hughes data from November 1st, 2013, the U.S rig count for this week is 1,742 rigs exploring for or developing oil or natural gas. This count is an increase of 4 rigs when compared to last week, with oil rigs up 19 to 1,376 rigs, gas rigs down 16 to 360 rigs, […]
According to Baker Hughes data from November 1st, 2013, the U.S rig count for this week is 1,742 rigs exploring for or developing oil or natural gas. This count is an increase of 4 rigs when compared to last week, with oil rigs up 19 to 1,376 rigs, gas rigs down 16 to 360 rigs, […]
The European Steel Association (Eurofer) says the year-over-year decline in the European Union (EU) steel industry is beginning to lessen and should show positive growth in 2014, according to the Eurofer Economic and Steel Market Outlook 2013-2014. The SWIP (Steel Weighted Industrial Production) Index is expected to be down -1.1 percent in the third quarter […]
According to Baker Hughes data from October 25th, 2013, the U.S rig count for this week is 1,738 rigs exploring for or developing oil or natural gas. This count is a decrease of 1 rig when compared to last week, with oil rigs down 4 to 1,357 rigs, gas rigs up 4 to 376 rigs, […]
According to Baker Hughes data from October 18th, 2013, the U.S rig count for this week is 1,739 rigs exploring for or developing oil or natural gas. This count is a decrease of 4 rigs when compared to last week, with oil rigs down 6 to 1,361 rigs, gas rigs up 3 to 372 rigs, […]
According to Baker Hughes data from October 11th, 2013, the U.S rig count for this week is 1,743 rigs exploring for or developing oil or natural gas. This count is a decrease of 13 rigs when compared to last week, with oil rigs down 5 to 1,367 rigs, gas rigs down 9 to 369 rigs, […]
The partial federal government shutdown prevented the Bureau of Labor Statistics from publishing the September data which was scheduled for last Friday. We have therefore decided to take a more in depth look at manufacturing and construction employment through August. The graph below shows the change in total employment for these two sectors since January […]
According to Baker Hughes data from October 4th, 2013, the U.S rig count for this week is 1,756 rigs exploring for or developing oil or natural gas. This count is an increase of 12 rigs when compared to last week, with oil rigs up 10 to 1,372 rigs, gas rigs up 2 to 378 rigs, […]
Specialty pipe maker Edgen Group Inc., based in Baton Rouge, has been purchased by Japan-based Sumitomo Corporation for $12 per share. The acquisition is valued at $520 million and is expected to close by the end of the year. “The investment in Edgen Group will represent further expansion of Sumitomo’s distribution presence across the upstream, […]
The Baker Hughes North American Rotary Rig Count is a weekly census of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States and Canada. Rigs are considered active from the time they break ground until the time they reach their target depth and may be establishing […]
A storage dome collapse will delay the start-up of Nucor’s new DRI plant in Convent, La., until the end of the year said Nucor officials in a press release on Sept. 26. On Wednesday afternoon, one of three storage domes for storage of iron ore pellets, suffered structural failure and collapsed, creating what sounded like […]
According to Baker Hughes data from September 20th, 2013, the U.S rig count for this week is 1,761 rigs exploring for or developing oil or natural gas. This count is a decrease of 7 rigs when compared to last week, with oil rigs up 8 to 1,369 rigs, gas rigs down 15 to 386 rigs, […]
Ocean Freight Ocean freight rates, as reported by the Baltic Exchange, have rebounded strongly in the last few months driven mainly by the cape-size component. The composite Baltic Dry Index has risen by 152 percent from its 2013 low point in February an increase from 737 to 1860 (Figure 1). The Capesize component has risen […]
The U.S. International Trade Commission determined on September 12 to continue trade restraints on welded large diameter pipe from Japan following a second five-year sunset review. The dumping margin is set at 30.80 pct. It was determined that revoking the existing antidumping duty order “would be likely to lead to continuation or recurrence of material […]
According to Baker Hughes data from September 13th, 2013, the U.S rig count for this week is 1,768 rigs exploring for or developing oil or natural gas. This count is an increase of 1 rig when compared to last week, with oil rigs down 4 to 1,361 rigs, gas rigs up 7 to 401 rigs, […]
According to Baker Hughes data from September 6th, 2013, the U.S rig count for this week is 1,767 rigs exploring for or developing oil or natural gas. This count is a decrease of 9 rigs when compared to last week, with oil rigs down 23 to 1,365 rigs, gas rigs up 14 to 394 rigs, […]
According to Baker Hughes data from August 30th, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number is unchanged when compared to last week, with oil rigs up 6 to 1,388 rigs, gas rigs down 7 to 380 rigs, and miscellaneous rigs up […]
According to Baker Hughes data from August 23rd, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number represents a decrease of 15 rigs compared to last week, with oil rigs down 15 to 1,382 rigs, gas rigs down 1 to 387 rigs, and […]
According to Baker Hughes data from August 16th, 2013, the U.S rig count for this week is 1,791 rigs exploring for or developing oil or natural gas. This number represents an increase of 13 rigs compared to last week, with oil rigs up 12 to 1,397 rigs, gas rigs up 2 to 388 rigs, and […]
By Brett Linton According to Baker Hughes data from August 9th, 2013, the U.S rig count for this week is 1,778 rigs exploring for or developing oil or natural gas. This number represents a decrease of 4 rigs compared to last week, with oil rigs down 3 to 1,385 rigs, gas rigs down 2 to […]
Written by: Brett Linton According to Baker Hughes data from August 2nd, 2013, the U.S rig count for this week is 1,782 rigs exploring for or developing oil or natural gas. This number represents an increase of 6 rigs compared to last week, with oil rigs down 13 to 1,388 rigs, gas rigs up 19 […]
According to Baker Hughes data from March 22nd, 2013, the U.S rig count for this week is 1,746 rigs exploring for or developing oil or natural gas. This number represents a decrease of 30 rigs from last week. Compared to last year the 1,746 count is a decrease of 222 rigs. Canadian rigs decreased by […]
According to Baker Hughes data from March 15th, 2013, the U.S rig count for this week is 1,776 rigs exploring for or developing oil or natural gas. This number represents an increase of 24 rigs from last week. Compared to last year the 1,776 count is a decrease of 208 rigs. Canadian rigs decreased by […]
Written by: Sandy Williams Voestalpine will invest 550 million euro ($718 million) for construction of a DRI plant in San Patricio County near Corpus Christi, TX. The facility will be cable of producing 2 million metric tons of DRI and HBI (hot briquetted iron) annually. A start-up date in early 2016 is projected. Half […]
Written by: Sandy Williams This year Nucor plans to spend $280 million on its Louisiana DRI facility and approximately $260 million towards its natural gas related investments. Essar Steel Minnesota is in talks to build a joint venture DRI plant. Voestalpine and Northstar Bluescope Steel are both considering DRI facilities. Severstal just postponed a DRI […]
Written by: Sandy Williams Start up of the Esmark Yorkville cold-rolling plant is on hold waiting for “a less volatile steelmarket” according to Esmark. Esmark acquired the renamed Ohio Cold Rolling Company from defunct RG Steel along with a 50 percent interest in the nearby tin plate production plant Ohio Coatings Co. in October 2012. […]