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 […]
The number of active U.S. rotary drill rigs increased 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 U.S. rigs […]
The number of active U.S. rotary drill rigs was relatively unchanged 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. SMU Note: Our last […]
The number of active U.S. rotary drill rigs was unchanged 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 U.S. […]
A division of PTC Alliance has acquired “substantially all” of the assets of oil country tubular goods (OCTG) producer Boomerang Tube. The subsidiary, PTC Liberty Tubulars LLC, has in addition scooped up the assets of Southern Tube LLC in Houston, the company said. Financial terms of the deal were not disclosed. “This acquisition brings together two […]
U.S active rotary drill rig counts increased again last week, while Canadian rig counts 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 U.S. rigs rose by 8 […]
U.S and Canadian active rotary drill rig counts increased again this 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 U.S. rigs rose by 5 to 378, with […]
It might be comforting to have 2020 in the rear-view mirror, but 2021 could have a few tricks up its sleeves, an ArcelorMittal USA analyst said. The good news: The U.S. should see apparent steel consumption increase 6% in 2021 after it fell 16% in 2020, according to Ping Liang, senior analyst-strategic marketing, at ArcelorMittal […]
U.S and Canadian active rotary drill rig counts increased this 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 U.S. rigs rose by 9 this week to 360, […]
Boomerang Tube has laid off 150 people at its mill in Liberty, Texas, because of a “rapid spike” in steel prices as well as in COVID-19 infections, according to documents filed with state labor officials. The layoffs were effective on Dec. 23, 2020, and affected approximately 50 salaried and 135 hourly employees, according to Worker Adjustment […]
U.S and Canadian active rotary drill rig counts were mixed this week, according to updated 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 U.S. rigs rose by 8 this week […]
U.S and Canadian active rotary drill rig counts were steady to up this week, according to updated 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 U.S. rigs rose by 3 […]
The drill rig counts in the U.S and Canada were mixed this week, according to updated data released by oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs fell by […]
The active U.S and Canadian drill rigs count continues to inch upwards, according to updated data released by oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs increased by 4 […]
The October Energy Information Administration (EIA) Short Term Energy Outlook remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to COVID-19 continue to evolve. Reduced economic activity from the pandemic has caused changes in 2020 energy demand and supply patterns and will continue to affect these patterns in the future. EIA […]
The number of active U.S and Canadian gas and oil rigs increased yet again this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs increased by […]
The number of active U.S and Canadian gas and oil rigs increased again this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs increased by 3 […]
The September Energy Information Administration (EIA) Short Term Energy Outlook remains subject to heightened levels of uncertainty due to evolving COVID-19 mitigation and reopening efforts. In its outlook, EIA reports that reduced economic activity has caused changes in energy demand and supply patterns. Crude oil production has risen as operators have brought wells back online […]
The number of active U.S and Canadian gas and oil rigs increased this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs increased by 6 to […]
The number of active U.S and Canadian gas and oil rigs remained flat this past week, according to oilfield services company Baker Hughes. The active drill rigs count is important to the steel industry because it is a leading indicator of oil country tubular goods demand. The number of active U.S. rigs decreased by 2 […]
The latest Energy Information Administration estimates show U.S. liquid fuels consumption averaged 16.2 million barrels per day (b/d) in Q2 2020, down 20 percent from Q2 2019 due to COVID-related travel restrictions and reduced economic activity. EIA forecasts U.S. liquid fuels consumption will average 18.9 million b/d in Q3 (down 1.8 million b/d YOY), rising to […]