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Market Update
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July 2020
U.S. Steel Capacity Utilization: The total tonnage for the week ending June 27th was 1,240 million net tons, at a capacity utilization rate of 55.4%. The year to date tonnage output is 40,627 million net tons, at an average capacity utilization rate of 68.1%. In 2019, the same output total was 49,476 million net tons, at an average capacity utilization of 81.6%.
Oil & Gas Rotary Rig Counts: The total number of operating rigs in the U.S. the week as of June 26th was 188 oil and 75 gas (totaling 263). In percentage terms, on a month on month, (m/m) basis, oil rigs were down 15.3% and gas down 2.6%. On a year on year, (y/y) comparison, rigs were down 76.3% for oil and down 56.6% for gas. The combined figure for YoY was -72.6% or -702 rigs.
June 2020
U.S. Steel Capacity Utilization: The total tonnage for the week ending June 6th was 1,195 million net tons, at a capacity utilization rate of 53.3%. The year to date tonnage output is 36,953 million net tons, at an average capacity utilization rate of 69.9%. In 2019, the same output total was 41,990 million net tons, at an average capacity utilization of 81.8%.
Advanced Durable Goods Orders: The U.S. Census Bureau reported that; new orders for durable goods orders decreased by 17.2% month on month, (m/m) in April, following the 16.6% decrease in March. The always-volatile nondefense aircraft orders, decreasing (N/A)% m/m and down 119.9% y/y influenced this trend significantly.
April 2020
Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. the week as of April 3rd was 563 oil and 100 gas (totaling 663). In percentage terms, on a month on month, (m/m) basis, oil rigs were down 17.6% and gas down 8.3%.
March 2020
Advanced Durable Goods Orders: The U.S. Census Bureau reported that; new orders for durable goods orders decreased by 0.2% month on month, (m/m) in January, following the 2.9% increase in December.