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
OCTG producers in Canada take aim at Mexico, US, others
Evraz NA and Welded Tube of Canada have lodged an unfair trade complaint against imports of OCTG, including those from USMCA trading partners Mexico and the US.
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.