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
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.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]
Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.