Steel Products
Canadian Housing Starts Slip in July
Written by Sandy Williams
August 16, 2013
Canadian housing starts in July fell slightly to a seasonally adjusted annual rate of 192,853 units from 193,797 units in June. The decrease was 0.5 percent from June levels and 9.5 percent below housing starts in July 2012.
Urban starts for single units decreased by 5.5 percent to 58,732 units in July while urban multi-unit housing starts declined by a scant 0.2 percent to 114,311 units.
Housing construction surged during the spring and appears to be stabilizing said the Canada Mortgage and Housing Corp.
“For the past few months, total housing starts have followed the stabilizing trend observed in sales of existing homes earlier this year,” said Mathieu Laberge, Deputy Chief Economist at CMHC. “As expected, the trends in the two market segments typically follow a similar pattern with the new home market lagging behind the existing home market by a few months.”

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.