As if the south is not already flooded with flat rolled steel mills, Arkansas Governor Mike Beebe and Big River Steel CEO John Correnti announced earlier today that if the bonds are approved by the Arkansas legislature a new $1 billion steel mill will be built in Arkansas. Details were lacking regarding the type of […]
Written by: Sandy Williams Nucor Corporation announced today that fourth quarter earnings were $136.9 million and flat compared to net earnings of $137.1 million in the same quarter of 2011. Earnings were up in the fourth quarter from $110.3 million in the third quarter of 2012. Total net earnings for 2012 were $504.6 million, compared […]
According to Baker Hughes data from January 25th, 2013, the U.S rig count for this week is 1,753 rigs exploring for or developing oil or natural gas. This number represents an increase of 4 rigs from last week. Compared to last year the 1,753 count is a decrease of 255 rigs. Canadian rigs increased by […]
Esmark Inc., Stahlschmidt Inc. and Bouchard Group LLC have announced the joint acquisition of Esmark Technologies. Esmark Technologies will provide technical management services across the steel, manufacturing and industrial sectors and will be based in Cleveland Ohio. Esmark Inc., founded by Chairman and CEO James Bouchard, has strong roots in the steel industry. Current interests […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
According to Baker Hughes data from January 18th, 2013, the U.S rig count for this week is 1,749 rigs exploring for or developing oil or natural gas. This number represents a decrease of 12 rigs from last week. Compared to last year the 1,749 count is a decrease of 259 rigs. Canadian rigs increased by […]
Written by: Sophia Fain A. M. Castle & Co. announced restructuring plans to improve annual operating profit by $33 million once fully implemented in 2013. Changes to its metals business include an organizational restructuring, warehouse realignments and performance improvement programs. “This broad, performance-enhancing plan will enable us to better serve our customers by organizing our […]
Written by: Sandy Williams Construction employment is expected to rise in 2013 according to survey data presented by the Associated General Contractors of America in their construction industry outlook report for 2013. Of those firms surveyed in 30 states, 31 percent expect to add new staff this year while only 9 percent plan to make […]
Written by: Sandy Williams Iron ore prices are at a 15 month high but are unlikely to stay that way say analysts. Currently, 62% Fe ore is at $158 per tonne, soaring from November’s price of $116 and almost doubling from the low of $87 per tonne in September. Analysts say the increase is a […]
According to Baker Hughes data from January 11th, 2013, the U.S rig count for this week is 1,761 rigs exploring for or developing oil or natural gas. This number represents a decrease of 1 rig from last week. Compared to last year the 1,761 count is a decrease of 226 rigs. Canadian rigs increased by […]
Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for November 2012 increased 23.9 percent, to 412,416 units, up from 332,886 units shipped in November 2011. Residential electric storage water heater shipments increased 6.9 percent in November 2012, to 331,237 units, up from 309,985 units shipped in November 2011. For the year-to-date, […]
On Friday, the U.S. Department of Commerce released final census data for the month of November and preliminary census data for the month of December. Based on that data, SMU forecast 2012 imports will be 17 percent higher than what was imported one year earlier. A large portion of those tons were imported by domestic […]
According to Baker Hughes data from January 4th, 2013, the U.S rig count for this week is 1,762 rigs exploring for or developing oil or natural gas. This number represents a decrease of 1 rig from last week. Compared to last year the 1,762 count is a decrease of 245 rigs. Canadian rigs increased by […]
Written by: Sandy Williams Construction spending in November decreased to a seasonally adjusted annual rate of $866.0 billion, down 0.3 percent from the revised October estimate of $868.2 billion according to data released by the Department of Commerce on Wednesday. “Preliminary data from the Census Bureau for November shows overall construction spending slipped 0.3 percent […]
According to Baker Hughes data from December 28th, 2012, the U.S rig count for this week is 1,763 rigs exploring for or developing oil or natural gas. This number represents a decrease of 11 rigs from last week. Compared to last year the 1,763 count is a decrease of 244 rigs. Canadian rigs decreased by […]