Steel Products
Builder Confidence at Highest Level in 8 Years
Written by Sandy Williams
August 16, 2013
Builders are feeling more confident about the housing market according to the National Association of Home Builders/Wells Fargo Housing Market Index. The August Index shows an increase of three points to 59, bringing the index to its highest level in almost eight years.
Of the three components used in the monthly survey to compile the index, current sales conditions rose three points to 62 in August, sales expectations for the next six months rose one point to 68, and traffic of prospective buyers was unchanged at 45.
In a three month moving average for the Housing Market Index, the Midwest and West gained six points each, 60 and 57, respectively. The Northeast was unchanged at 39 and the South moved up four points to 54.
The NAHB reports buyers are motivated by firming home prices and limited inventory of homes for sale. The momentum of buying, however, is being slowed somewhat by “tight credit and low supplies of finished lots and labor,” said NAHB Chief Economist David Crowe.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
US rig count slips, Canada ticks higher
ncreases through September, according to the latest Baker Hughes rig count data.
CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.