Steel Products
August 11, 2023
Written by Becca Moczygemba
Active rig counts in the US trickled down this week, while Canadian rigs ticked up, according to to the latest data from oilfield services company Baker Hughes.
The total active rigs in the US fell to 654 as of Aug. 11, down by five from Aug. 4’s report.
I’m now testing as an author user to see if I can add new tags in the right rail or using quick edit.I will check if I can trick the CMS and create a new tag via “Tags” in Main menu on the left hand side.I’m also testing if I can use existing tags and […]
It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.