Well folks, after many months of consternation in the steel foundry and steel castings industry, it looks like the Keystone Pipeline is back. This is great news for all of us metal casting foundries, especially ferrous foundries. https://www.bloomberg.com/news/videos/2017-01-24/trump-signs-executive-order-on-keystone-pipeline This is great news for our industry. Iron castings, steel castings, and plenty of other foundry products are [...]
I've spent about as much time reading up on the medium term prospects for the oil market as anyone this past week to try and gauge what the market for steel castings and ductile iron castings is likely to be as we head into 2016 . A few stories that kind of sum up the picture [...]
I've belabored the plight of the downtrodden oil market enough to communicate the point that the foundry world, especially as it pertains steel castings and ductile iron castings (and to some extent gray iron), is suffering under the weight of low oil prices. However, the entire commodity picture is a bleak one. In light of the [...]
As if the Steel Foundry industry was not already reeling enough as it is... I think this article says it all: http://www.bloomberg.com/news/articles/2015-10-20/after-year-of-pain-opec-close-to-halting-u-s-oil-in-its-tracks To expound on what the article says, OPEC will continue to crush the U.S. Oil Boom with production levels that won't allow the price of oil to return to $60-$70 per barrel until mid [...]
We are seeing some real trouble out there in the steel castings world folks. Despite news that all sectors of the US economy are holding their own, the industrial world, steel foundries in particular, are doing their best to tread water while oil and most other commodities find an equilibrium, but it's painful. There are several [...]
Low oil prices seem to be pushing some of the big guys to decide they are going to team up, as the perception is that there are some value acquisitions out there to be had in light of low prices. The assumption of course is that prices will rise again and value will return to this [...]
As a steel castings foundry, our industry has taken a hit by low oil pricing. Many of our peers in the industry are significantly off their 2014 numbers due to the pricing slump, but it obviously isn't just the steel foundry guys. Exxon, Chevron, and many of the other household names are continuing to feel the [...]
Well folks, we're working through the downturn in oil prices just like everyone else seems to be in the steel foundry industry these days. Oil just settled at a 2015 high of $60.93/barrel, which is definitely positive movement but still nothing to write home about. Weâll have to see if any of the curtailments in exploration [...]