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The American Institute of Architects’ (AIA) ABI Index – a leading indicator of non-residential construction activity – hit 54.2 in January, staying above 50 for… more
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According to American Metal Market (AMM) around midday, Vallourec & Mannesmann USA raised carbon & alloy OCTG prices by $100/ton effective April 1, the first… more
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January MSCI shipments jumped 31% from newly-revised December data, a far stronger increase than the typical seasonal jump of 24%, bringing shipments to… more
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Russel Metals (RUS) reported 4Q earnings of C$0.34/share, which adjusted to C$0.44/share, ahead of the Street’s… more
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The number of active oil and natural gas rigs in the United States rose by 3 to 1,762 for the week ending February 15, 2013 – up 0.2% from last week and 0.7% from the nearly 2-year low a month ago but down 11.6% from last year.
The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.
The number of rigs in Canada rose for the 7th straight week, rising by by 3.2% to 651 from 631 last week but was still down 7.7% from last year.
The highest rig count for Canada was 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.
Source: Baker Hughes Inc.
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While our Advance/Decliner Index dropped last week, the current reading continues to signal strength in pricing to continue. The decline was due to falling… more
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For the week ending February 9, 2013, weekly domestic raw steel production rose 1.2% to 1.822 million tons (mt) – and is up 8.5% from the recent low of 1.679 mt for the week of October 27, 2012 but still down 5.6% from a year ago.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.
Capacity utilization came in at 76.1%, up from 75.2% last week but down from the year-ago level of 80.7%.
The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
Source: AISI and Steel Market Intelligence
The number of active oil and natural gas rigs in the United States fell by 5 to 1,759 for the week ending February 8, 2013 – down 0.3% from last week and 11.6% from last year but still up 0.6% from the nearly 2-year low a month ago.
The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.
The number of rigs in Canada rose for the 6th straight week, rising by by 1.0% to 631 from 625 last week but was still down 11.0% from last year.
The highest rig count for Canada was 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.
Source: Baker Hughes Inc.
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January Chinese steel exports continued to rise, up 1.4% to 4.92 million tonnes (mt), while imports rose 5.8% to 1.13 mt, resulting in net steel exports coming in at… more
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