March U.S. cutting tool consumption was $200 million, according to the U.S. Cutting Tool Institute and the Association for Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 14.3 percent from February and up 8.4 percent from March 2016.

The totals here represent the majority of the U.S. market for cutting tools.

“It is clear that there is a much stronger customer demand across all sectors of the global market that we serve," said Johan Israelsson, president of Sandvik Hyperion. "Although there is some tendency to rebuild inventories as one driver, we are also experiencing an underlying market growth.  It is especially encouraging to see optimism within the oil and gas industry after a very difficult period.”