The number of active oil and gas drill rigs was unchanged in the U.S. this past week, while the Canadian rig count increased, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The […]
Steel prices declined for the third consecutive month in November, following a 12-month streak of continuous price increases. Hot-rolled coil prices declined $105 per ton throughout the month, with the SMU index averaging $1,770 per ton ($88.50 per cwt) as of Tuesday, Nov. 30. The SMU Price Momentum Indicator for hot-rolled coil was adjusted from Neutral […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
The number of active oil and gas drill rigs increased in the U.S. this past week, while Canadian rig counts declined by 1, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) […]
The number of active oil and gas drill rigs increased in U.S. this past week, while Canadian rig counts declined, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand. The number […]
October saw a gradual decline in steel prices for the second consecutive month, following one full year of continuous price increases. Hot rolled steel prices decreased $45 per ton throughout the month, with the SMU index averaging $1,885 per ton ($94.25 per cwt) as of Tuesday, Oct. 26. The SMU Price Momentum Indicator for hot […]
The number of active oil and gas drill rigs decreased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
Oil prices topped $80 per barrel this week for the first time since 2014, likely giving a boost to drilling activity and consumption of steel products such as line pipe and oil country tubular goods (OCTG). But don’t expect a big spike in the market. “The recent increases in oil and gas prices are certainly […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released Friday by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
Steel prices gradually declined through the month of September, following one full year of increasing prices. Hot rolled steel prices decreased $35 per ton ($1.75 per cwt) throughout the month, with the SMU index averaging $1,920 per ton ($96.00 per cwt) as of last Tuesday. The SMU Price Momentum Indicator was adjusted to neutral the […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number […]
Steel prices continued to climb through the month of August, marking one full year of increasing prices. Hot rolled steel prices increased $45 per ton ($2.25 per cwt) throughout the month, with the SMU index averaging $1,935 per ton ($96.75 per cwt) as of Tuesday. The SMU Price Momentum Indicator remains unchanged since the August 2020 adjustment to higher, indicating prices […]
The number of active oil and gas drill rigs increased in the U.S. this past week, while Canadian rigs declined, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The […]
The number of active oil and gas drill rigs increased in both the U.S. and Canada this past week, according to data released on Friday afternoon by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number […]
Steel prices continued to climb through the month of July, now the 11th consecutive month prices have increased. Hot-rolled steel prices increased an average of $30 per ton ($1.50 per cwt) each week, with the SMU index averaging $1,860 per ton ($93 per cwt) as of last Tuesday. The SMU Price Momentum Indicator has remained unchanged since the […]
The number of active oil and gas drill rigs slipped in the U.S. yet increased in Canada this past week, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
The number of active oil and gas drill rigs increased again this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of […]
Prompted by rising energy prices, the number of active oil and gas drill rigs increased again this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular […]
Steel prices rose even higher through the month of June, now the 10th consecutive month prices have increased. Hot rolled steel prices increased an average of $30 per ton each week, reaching $1,770 per ton in SMU’s latest check of the market. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment […]
The number of active oil and gas drill rigs increased this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
It is a good time to be a steel producer. Both Steel Dynamics and Nucor are expecting record earnings for the second quarter of 2021 supported by strong demand and unprecedented steel prices. And U.S. Steel expects second quarter adjusted EBITDA more than double that in the first. SDI expects earnings to be in the range […]
The energy tubulars market is still waiting for the boom flat-rolled steel prices – the sector’s primary input cost – to flow through to pipe selling prices, according to one industry expert. On the face of it, things look good. Oil prices are improving, the rig count is up dramatically versus a year ago, and […]
The number of active oil and gas drill rigs decreased this past week for the United States, while the Canadian rig count jumped 24%, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. […]
Steel prices continued to climb higher in May, now the ninth consecutive month prices have increased. Hot rolled steel prices increased an average of $23 per ton each week, reaching $1,590 per ton as of last week when this article was filed. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment […]
The number of active oil and gas drill rigs increased this past week for the United States, while the Canadian rig count declined, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The […]
The number of active oil and gas drill rigs increased this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]
Limited supply and strong demand continued to push steel prices higher throughout April, now the eighth consecutive month in which prices have increased. Hot rolled steel prices increased an average of $25 per ton each week, reaching $1,440 per ton by the end of April, exceeding any historical price by far. The SMU Price Momentum […]
The number of active oil and gas drill rigs declined slightly this past week for both the United States and Canada, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of […]
The number of active U.S. rotary drill rigs continued to increase this past week, while the Canadian rig count declined, according to data released by oilfield services company Baker Hughes. The rig count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active […]