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Market Update
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March 2021
Advanced Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods increased by 3.4% month-on-month (m/m) in January 2021, totaling $256.5M. This represents a 4.1% increase y/y.
February 2021
U.S. Steel Capacity Utilization: The total tonnage for the week ending January 30th, 2021 was 1,725 million net tons, at a capacity utilization rate of 76.1%. The year-to-date tonnage output is 6,889 million net tons, at an average capacity utilization rate of 75.7%. In 2019, the same output total was 7,668 million net tons, at an average capacity utilization of 82.4%.
Oil and Gas Rotary Rig Counts (US): The total number of operating rigs in the U.S. the week as of January 29th was 295 oil and 88 gas (totaling 383). In percentage terms, on a month on month (m/m) basis, oil rigs were up 10.5% and gas up 6.0%. On a year on year (y/y) comparison, rigs were down 56.3% for oil and down 21.4% for gas. The combined figure for y/y was -51.4% or -406 rigs.
Oil and Gas Rotary Rig Counts (Canada): The total number of operating rigs in Canada the week as of January 29th was 98 oil and 76 gas (totaling 174). In percentage terms, on a month on month (m/m) basis, oil rigs were up 444% and gas up 85.4%. On a year on year (y/y) comparison, rigs were down 37.6% for oil and down 15.6% for gas. The combined figure for y/y was -29.6% or -73 rigs.
January 2021
Advanced Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods increased by 0.2% month on month (m/m) in December 2020, following the 1.2% increase in November. New orders totaled $245.3M in December, a 0.4% decrease y/y. The always-volatile nondefense aircraft orders, down 116.7% y/y, influenced this trend significantly.
U.S. Steel Capacity Utilization scored a 73.0% in October 2020 – up 1.5% month on month (m/m) – and its the seventh month increasing for the year. Mexico Steel Capacity Utilization scored a 78.4% in October – up 3.8% m/m – and its second month increasing for the year. Canada Steel Capacity Utilization scored a 76.5% in October – up 8.2% quarter on quarter (q/q).