Tag: Oil

The US rig count fell for the seventh consecutive week, while Canada's count moved up according to to the latest data from oilfield services company Baker Hughes.

Active rig counts in the US inched down again this week, while Canadian rigs ticked up, according to to the latest data from oilfield services company Baker Hughes

Canadian metals distributor Russel Metals announced it is selling off 50% of its equity in TriMark Tubulars Ltd. to Japan’s Marubeni-Itochu Tubulars Ltd. (MITI).

The rig count roller coaster continues, with numbers dropping in the US but inching up in Canada this week, according to the latest data from oilfield services company Baker Hughes. The total US rig count dipped to 664 active rigs as of July 28, down five from the week prior. Active oil rigs in the US decreased […]

An unusual clash of powerful forces is in full swing over tin mill products. An antidumping petition was filed against eight countries in January of this year, while an anti-subsidy petition was filed against imports of tin mill products from China at the same time.

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]

An unusual clash of powerful forces is in full swing over tin mill products. This flat-rolled steel product is used to make “tin cans” that hold a huge array of food products and other metal containers sold throughout the world. Tin mill products are generally made from cold-rolled steel that is coated with tin or […]

The rig count roller coaster continues, with numbers dropping in the US but inching up in Canada this week, according to the latest data from oilfield services company Baker Hughes. The total US rig count dipped to 664 active rigs as of July 28, down five from the week prior. Active oil rigs in the US decreased […]

The active rig count in the US and Canada dropped in both countries, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 669 active rigs as of July 21, down six from the week prior. Active oil rigs in the US decreased by seven to 530, while […]

 The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]

 The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]

After seeing an increase last week, the active rig count in the US is back down. Canada’s rig count, however, saw an increase from the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count sat at 675 active rigs as of July 14, down five from the week prior. […]

A South Korean pipe and tube manufacturer is planning to build a new oil country tubular goods (OCTG) mill just north of Houston. Husteel, part of South Korea’s Shinan Group, is set to build a $122-million greenfield OCTG facility in Splendora, Texas, according to industrial equipment manufacturer Fives Group. Paris-based Fives said it has already […]

After nine weeks of declines, the oil and gas rotary rig count is back up in the US. Canada’s count also saw an increase from the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count sat at 680 active rigs as of July 7, up six from the week […]

The US rig count fell yet again for the week ended June 30. This marks the ninth consecutive week rig counts have declined in the US. Canada also saw a decline after an increase the week prior, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 674 active […]

With the US aluminum industry at a critical juncture, a new report is highlighting ways the Biden administration can use the Global Arrangement for Sustainable Steel and Aluminum (GASSA) to help the struggling domestic industry. Recall CRU’s aluminum analysts have previously shared with SMU the nightmare US aluminum smelters have been facing when it comes […]

US rig counts dropped for the week ended June 23, while Canada’s count increased, according to the latest data from oilfield services company Baker Hughes. This marks the eighth consecutive week-over-week decline in the US and fifth consecutive weekly increase in Canada.   The total US rig count stood at 682 active rigs as of June 23, off five from the […]

Rig counts are down for the seventh consecutive week in the US but up in Canada for the week ended June 16, according to the latest data from oilfield services company Baker Hughes.  The total US rig count stands at 687 active rigs as of June 16, down eight from the previous week. The number of active oil rigs […]

The US and European Union are working on an agreement dealing with carbon emissions in the steel industry. The impact on bilateral trade could be high. In 2021, the US and EU agreed that the US would suspend the 25% Section 232 tariffs on steel and aluminum, and the EU would drop its World Trade […]

The Iron Ore Company of Canada (IOC) is starting to idle its mine, concentrator and pellet plant near Labrador City because of the impact of wildfires in Quebec province.   The actions follow the Rio Tinto-owned company suspending transport on its 418km Quebec North Shore and Labrador Railway (QNS & L) linking the mine to […]

Rig counts fell in the US for the fifth consecutive week, but increased in Canada for the week ended June 2 compared with a week earlier, according to the latest data from oilfield services company Baker Hughes.  The total US rig count stands at 696 active rigs as of June 2, down 15 from the previous week. The number of active oil rigs in the US dropped […]

The US will extend for another year an exemption for Ukrainian steel from Section 232 tariffs. “The United States has provided a much-needed market for the steel that Ukraine is able to export,” Commerce Secretary Gina Raimondo said in statement on Wednesday, May 31. “In doing so, Americans are directly supporting the people of Ukraine, […]

Rig counts fell in the US while they inched up in Canada for the week ended May 26 vs. the week prior, according to the latest data from oilfield services company Baker Hughes. The total US rig count stands at 711 active rigs as of May 26, down nine from the previous week. The number of active oil rigs in the US fell […]

Forza Steel is investing $60 million to build a manufacturing facility at the Port of Brownsville in Texas on the Mexican border. The Mexican carbon steel pipe producer is planning to install equipment in early July to begin rolling mill operations, according to a press release from the Port of Brownsville on May 2. The facility […]

Rig counts fell in both the US and Canada for the week ended May 19 vs. the week prior, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 720 as of May 19, down 11 from the previous week. The number of active oil rigs in the US fell by 11 to 575 […]

Rig counts dropped in the US for the second straight week and inched up by one rig in Canada vs. the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count was 731 for the week ended May 12, down 17 from last week. The number of active oil rigs in the US fell by two […]

Rig counts fell in the US and remained flat in Canada vs. the previous week, according to the latest data from oilfield services company Baker Hughes. The total US rig count was 748 for the week ended May 5, off seven rigs from the previous week. The number of active oil rigs in the US fell by three to 588 in the same comparison. Gas rigs were […]

For the second consecutive week, rig counts were up in the US and down in Canada, according to the latest data from oilfield services company Baker Hughes. The total US rig count was 755 for the week ended April 28, up two rigs from last week. The number of active oil rigs in the US remaind flat at […]

Rig counts continue to fall in the US and Canada, according to the latest data from oilfield services company Baker Hughes. The total US rig count was 748 for the week ended April 14, down three rigs from the week prior. The number of active oil rigs in the US dropped by two from the prior week’s 588. The […]

Turkish pipe and tube maker Borusan Mannesmann has finalized its buy of Panama City, Fla.-based Berg Pipe for $162 million.  Borusan said it has acquired 100% of the US pipe maker, which manufactures large-diameter line pipe. “By acquiring Berg Pipe, a company with a total manufacturing capacity of 550,000 tons, we have secured a strategic […]