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At the start of the new century, there were few signs that the oil country tubular goods (OCTG) market was about to do something historic. But a remarkable growth cycle started about a decade ago, fueled by technological innovation and increased energy demand.
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AMM ’s third annual Aluminum Summit in June will offer analysts and executives from every step along the supply chain an opportunity to collaborate, address the challenges facing the industry, and seize the opportunities that domestic and global markets have to offer.
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The use of drilling mud—which will only increase with the spread of fracking and other oil and natural gas extraction practices—increases corrosion stress on OCTG products, requiring new approaches in the manufacturing and deployment of steel goods.
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TransCanada, the would-be builder of the controversial Keystone XL pipeline, said it is ready to go ahead with the project as soon as governmental issues are resolved—a move that could come sooner rather than later as the US State Department completes its studies on the environmental effects of the proposed construction.
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Red mud, a caustic byproduct of traditional aluminum production, could go from being a drag on the bottom line to a valuable commodity if two companies and their new process have their way.
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Fears of potential overcapacity are haunting the OCTG sector, as concerns about imported products and new domestic manufacturing projects coming online threaten to swamp what many see as an already overcompetitive fight for a market that may reach its limits.
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Improvements in natural gas prices and natural gas drilling activity are still the leading factors expected to drive OCTG demand, which could improve in the near term as declining gas drill rig numbers have stabilized while oil drilling continues to increase.
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The shale gas boom of recent years has led to greater demand for seamless pipe, and a number of producers are shifting gears or expanding capacity to help meet the growing need created by fracking, horizontal drilling and other strategies to reach the energy reserves.
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To some, Upstate Shredding owner Adam Weitsman is a visionary. To others, he’s a shrewd trader. To all, he’s perhaps the most controversial figure in the scrap recycling business.
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Barack Obama hasn’t been the most popular president among members of the ferrous scrap community, but many historical and political signs point to a strong probability for a robust second term—at least as far as the health and direction of scrap pricing is concerned.