Steel Products
ABI Continues Upward Trend
Written by Sandy Williams
August 22, 2013
The Architecture Billings Index jumped to 52.7 in July from 51.6 in June indicating a growing demand for construction design activity. The new project inquiry index, an indicator for future demand, surged 4.1 points to 66.7 in July.
“There continues to be encouraging signs that the design and construction industry continues to improve,” said American Institute of Architects Chief Economist, Kermit Baker. “But we also hear a wide mix of business conditions all over the country, ranging from outstanding and booming to slowly improving to flat. In fact, plenty of architecture firms are reporting very weak business conditions as well, so it is premature to declare the entire sector has entered an expansion phase.”
Regional indexes for July, based a three month moving average, were Northeast 54.3, South 54.2, West 51.1 and Midwest 50.8, compared to June at 55.6, 54.8, 51.2 and 48.3, respectively.
Considered a leading indicator, the ABI represents a nine to twelve month forecast of the relationship between architecture billings and construction spending. Any score above 50 indicates an increase in billings. (Source: American Institute of Architects)

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

Rig counts trend lower in US and Canada
Oil and gas drilling activity eased in both the US and Canada this week, according to Baker Hughes. US rig counts remain near multi-year lows, and Canadian activity continues its seasonal slowdown.

Wittbecker on Aluminum: When do the tariffs reach Main Street?
Containers sailing from China in April are down 15%-20% and Hapag Lloyd says their future bookings transpacific are down 30%.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

US, offshore CRC prices edge lower
US cold-rolled (CR) coil prices edged lower again this week, slipping four weeks in a row now. Most offshore markets mirrored the move, ticking down marginally as well.

ISM: Manufacturing growth down again in April
Activity had trended up for most of Q1