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 and Canadian rig counts inch higher
Baker Hughes reported higher oil and gas drilling activity this week in both the US and Canada.
Global steel production falls to near two-year low in September
World crude steel output declined for the fourth-consecutive month in September, slipping 3% from August to an estimated 141.8 million metric tons (mt), according to the latest figures from the World Steel Association (worldsteel).
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
Battery #14 at USS Clairton to restart on Oct. 23
U.S. Steel plans to restart battery #14 at the Clairton Coke Works plant on Thursday, ending its idling period. Battery #14 was hot idled following the explosion at coke oven batteries 13 and 14 on Aug. 11. The Mon Valley Works Clairton plant has completed the necessary repairs. It expects the battery to restart during […]
Findings from Clairton investigations prompt USS to revise safety protocols
U.S. Steel (USS) said it’s been strengthening its safety protocols as findings from investigations into the causes of a deadly explosion at USS Clairton Coke Works on Aug. 11 materialize. The Pittsburgh, Pa.-headquartered steel producer stated that an independent investigation conducted by the Environmental Design & Testing Corp (EDT) produced findings aligned with the company’s […]