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June Steel Imports Drop to Four-Month Low; Impact from OCTG Trade Case Could Be Felt Soon

Steel Market Intelligence — Tue, 02 Jul 2013 23:19:14 +0000

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June steel import licenses declined 10.1% to 2.33 million tonnes (mt) from May’s 2.59 mt driven by declines for…

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June OCTG Prices Post Surprising Uptick; Further Upward Momentum Limited

Steel Market Intelligence — Thu, 27 Jun 2013 00:42:59 +0000

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According to Pipe Logix, June OCTG prices rose 0.3% (or $5/ton) to $1,670/ton, bringing an end to 14 consecutive monthly declines. The surprising increase was driven by…

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May Imports Rise to 11-Month High; Hot-Rolled Sheet Lowest Since February 2011

Steel Market Intelligence — Tue, 25 Jun 2013 23:06:05 +0000

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Preliminary May imports rose 4.6% from 2.68 million tons(mt) in April to 2.8 mt, the highest level since last June. The increase was primarily driven by…

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U.S. Rig Count Declines, Canadian Rig Count Posts Fourth Consecutive Increase

Steel Market Intelligence — Mon, 10 Jun 2013 16:28:23 +0000

The number of active oil and natural gas rigs in the United States fell to 1,765 for the week ending June 7, 2013, a 0.3% decline from last week’s 1,771 and some 11.0% below the year-ago level of 1,984.

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 increased for the fourth consecutive week, rising 4.8% to 152 from 145 the week before. However, rigs are a whopping 33.9% below the year-ago level of 230.

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.

May OCTG Prices Fall to Lowest Since March 2010

Steel Market Intelligence — Thu, 30 May 2013 16:17:21 +0000

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According to Pipe Logix, May OCTG prices declined 1.0% (or $16/ton) to $1,665/ton, the lowest since March 2010 and some 13.1% below the recent high of $1,916/ton in …

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Random Thoughts from Recent Steel Investor Calls

Steel Market Intelligence — Tue, 26 Feb 2013 21:24:57 +0000

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Important points from recent company investor calls, including Rio Tinto, BlueScope Steel, Usiminas, BHP Billiton, Vallourec and TMS International include: …more

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January OCTG Prices Keep Up the Slow Decline

Steel Market Intelligence — Fri, 01 Feb 2013 02:33:13 +0000

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According to Pipe Logix, January OCTG prices continued lower, dropping by 0.6% or $11/ton from December. The January price of $1,720/ton was the lowest in two years and…more

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U.S. Rig Count Down Nominally; Canada Shows Biggest Jump in Over 13 Years

Steel Market Intelligence — Fri, 11 Jan 2013 20:15:17 +0000

The number of active oil and natural gas rigs in the United States fell for the seventh straight week – declining by 1 to a 22-month low of 1,761 for the week ending January 11, 2013 – down 0.1% from last week and 11.3% from a year 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 showed a massive jump of 105.8% to 531 from 258 last week – the biggest jump in over 13 years and well above the 44.0% average jump for the second week in January.

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.

U.S. Rig Count Drops for 5th Straight Week; Canada Sees Usual Year-End Plunge

Steel Market Intelligence — Mon, 31 Dec 2012 15:01:41 +0000

The number of active oil and natural gas rigs in the United States fell for the fifth straight week – declining by 11 to a 22-month low of 1,763 for the week ending December 28, 2012 – down 0.6% from last week and 12.2% from a year 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 showed its usual year-end plunge – down 46.9% to 204 from 384 last week, and some 7.7% below the year-ago level.

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.

U.S. Rig Count Drops Back to 1800

Steel Market Intelligence — Fri, 07 Dec 2012 21:20:56 +0000

The number of active oil and natural gas rigs in the United States fell again this week – declining by 11 to a 19-month low of 1,800 for the week ending December 7, 2012 – down 0.6% from last week and 9.4% from a year 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 fourth consecutive week – up 1.8% to 406 from 399 last week, but 19.4% below the year-ago level.

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.