US drill rig activity resumed its downward trend last week according to the latest data from Baker Hughes. Meanwhile Canadian counts ticked higher for the fifth consecutive week. They now stand near a five-month high.
Drilling activity rose in both the US and Canada last week, according to the latest data release from Baker Hughes. US rig activity increased to a six-week high but remains near multi-year lows. Canadian counts continue to improve, now at a 20-week high.
Drilling activity in the US saw a slight uptick last week but continues to hover near multi-year lows, according to the latest data release from Baker Hughes. Meanwhile Canadian counts rose for the second-consecutive week and are now at a four-month high.
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.
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.
US drill rig activity resumed its downward trend last week, while Canadian counts increased to a four-month high, according to the latest data release from Baker Hughes.
Steel trade associations applauded the introduction of the “Prove It Act” into the House of Representatives on Monday.
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
US drill rig activity eased for the fourth consecutive week last week, while Canadian counts increased for the seventh week in a row, according to the latest data release from Baker Hughes.
US drill rig activity eased again last week, now down to levels not seen since late-2021, according to the latest data release from Baker Hughes. Canadian counts are moving in the opposite direction, inching higher for the sixth consecutive week to a three-month high.
US drill rig activity eased further last week, now down to a two-and-a-half-year low according to the latest update from Baker Hughes. In contrast, Canadian counts inched higher and are now at a three-month high.
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
Oil and gas drilling activity in the US ticked down last week, remaining near a two-year low, according to the latest update from Baker Hughes. In contrast, the Canadian count inched higher and is now at a 10-week high.
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.
The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry.
US drill rig activity eased further last week, receding to levels last seen at the start of 2022 according to the latest update from Baker Hughes
Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
The Canada Border Services Agency (CBSA) has completed its portion of an expiry review of the antidumping duty orders on welded standard pipe from Pakistan, the Philippines, Turkey, and Vietnam.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.
United Auto Workers (UAW) members at Stellantis' Warren Stamping Plant in Michigan have voted to authorize a strike at the factory.
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.
The number of active rigs in the US is now at the lowest level seen in over two years, while Canadian rigs have fallen to a four-month low.
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?