CBP finds Chinese OCTG being transshipped via Thailand
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.
Tag: Oil
Will China tariffs have desired effect?
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.
Rig count update: US activity dips to a two-year low
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
Active rig count update through mid-May
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.
Mexico’s TYASA breaks ground on SBQ rolling mill
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.
Canada considers standard pipe duties in expiry review
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.
May energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Stelco reports solid Q1, plans to up value-added output
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.
UAW authorizes strike action at Stellantis' Warren Stamping Plant
United Auto Workers (UAW) members at Stellantis' Warren Stamping Plant in Michigan have voted to authorize a strike at the factory.
Active rig counts mixed entering May
Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.
UAW considers strike at Stellantis plant over health, safety issues
United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.
Active rig counts slip in US and Canada
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.
Active rig count rises in US, falls in Canada
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
April energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Questioning long-held scrap price ‘realities’
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?
Rig count falls in US, rises in Canada
Drilling activity decreased in the US but rose in Canada in the week ended April 12, according to the latest data from Baker Hughes.
Evraz reports no impact on production from fire at Pueblo mill
Evraz North America said there was no impact on production from a fire that broke out at its Pueblo., Colo., steel mill on Friday.
Rig counts decline again in US and Canada
The number of active rigs in the US eased to a nine-week low, while Canadian activity continued it’s seasonal wind down.
February construction spending steady, shows solid y/y improvement
US construction spending in February was mostly steady from January but showed significant gains from last year.
Rig counts move lower again in US, Canada
Oil and gas drilling activity in North America slowed this week, according to the latest figures from Baker Hughes.
Rig count pulls back in US and in Canada
North American rig count activity declined this week, according to the latest data from Baker Hughes. The number of active rigs in the US eased from last week’s 6-month high, while Canadian activity continued to wind down.
Active US rig count rebounds to 5-month high, Canada falls
Rig counts in the US and Canada were mixed this week, according to the latest data from Baker Hughes.
March energy market update
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Final Thoughts
Reaction to the price announcements last week by domestic mills varied just a little depending on who you were speaking to. I heard rumblings before the announcements that a price hike of $100 per short ton (st) was coming. After the announcements were made, I had some questions as to whether they were increases at all.
Rig count declines in US and in Canada
US and Canadian rig counts both eased this week, according to the latest release from Baker Hughes on Mar. 8. Recall that US rigs had reached a 5-month high last week.
HR futures 'hot,' busheling futures 'not'
Hot rolled (HR) futures have been on a bit of a hot streak recently, while busheling futures have been more in the “not” category.
Active US rig count rises to 5-month high, Canada level
The number of active rigs in the US inched up to the highest level seen since September, according to the latest data from Baker Hughes.
Final thoughts
Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.
US rig count expands, Canada slips
Rig counts in the US and Canada were mixed again for the week ended Feb. 23. The US saw totals move higher, while Canadian rig figures slipped week on week (w/w), Baker Hughes’ latest data shows. US rigs The number of active rotary rigs in the US expanded by five to 626 from the previous […]
ATI names new chief executive
Kimberly A. Fields, current president of specialty metals producer ATI, has been named president and CEO of the Dallas-based company, effective July 1. Fields has served as COO of ATI since 2022 and president since July 2023. Prior to joining the company in 2019, she worked for IDEX Corp., Evraz, and GE. Fields will succeed […]