Steel Products
AIA Billings Index Grows for Fifth Straight Month
Written by Sandy Williams
January 25, 2013
Written by: Sandy Williams
The Architecture Billings Index showed growth for the fifth straight month in December. The American Institute of Architects reported the ABI score at 52, down slightly from 53.2 in November. The ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The score reflects an increase in demand for design services with any score above 50 indicating an increase in billing.
Interest in building continues to grow with project inquiries coming in at 59.4—the 47th straight month above the 50 mark.
“While it’s not an across the board recovery, we are hearing a much more positive outlook in terms of demand for design services,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Moving into 2013 we are expecting this trend to continue and conditions improve at a slow and steady rate. That said, we remain concerned that continued uncertainty over the outcomes of budget sequestration and the debt ceiling could impact further economic growth.”
December improvement was greatest in the Northeast and Midwest regions at 53.1 and 55.7, respectively. The South had its sixth straight month above neutral and was reported at 51.2, slightly down from November. The West remained unchanged from November at 49.6.
Commercial billings outdid other sectors for the first time since April earning a score of 53.4. Multifamily residential billings were at 50.5 and have been above the 50 mark for 18 of the past 24 month. Mixed practice billings were at 53.0 and institutional billings were at 50.9 for the fifth consecutive month.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Active rig count update through mid-May
Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.
Mexico’s TYASA breaks ground on SBQ rolling mill
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Biden hikes tariffs on Chinese goods, including steel and aluminum
The Biden administration announced a series of actions on Tuesday targeting China’s "unfair" trade policies. These actions will, among other things, make imports of steel and aluminum from the Asian nation even more prohibitive.
Nucor holds weekly HRC price steady after last week’s cut
Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.
US CR tags ease, premium over imports still high
Offshore cold-rolled (CR) coil prices remain much less expensive than domestic product, even as domestic prices have slipped to a six-month low, according to SMU’s latest check of the market.