Steel Products
US Rig Count Down 122 and Canada Up 49 Compared to Last Year
Written by Brett Linton
August 26, 2013
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 miscellaneous rigs up 1 to 7 rigs. Compared to last year the 1,776 count is a decrease of 122 rigs, with oil rigs down by 26, gas rigs down by 99, and miscellaneous rigs up by 3.
The Canadian rig count increased by 25 to 383 rigs this week, with oil rigs up 15 to 246 rigs, and gas rigs up 10 to 137 rigs. Compared to last year the 383 count is an increase of 49 rigs, with oil rigs down by 1 and gas rigs up by 50. International rigs decreased by 28 to 1,305 rigs last month, an increase of 41 rigs from a year ago.
Brett Linton
Read more from Brett LintonLatest in Steel Products
US HR prices surge above offshore tags
Hot-rolled (HR) coil prices leaped in the US this week, while tags abroad saw more measured gains. The result: US hot band prices have become even more expensive than imports on a landed basis. In fact, the premium US HR prices carry over HR prices abroad now stands at a 12-month high.
US rig counts inch up again, Canadian activity slips
The latest oil and gas rig count in the US increased slightly from last week, while Canadian activity edged lower, according to Baker Hughes.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
CRU: Rising protectionism impacts global steel trade
US sheet prices surge following tariff announcement
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]