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
Domestic mill shipments rise in June: AISI
US steel shipments increased month over month and year over year in June, according to the latest figures from the American Iron and Steel Institute (AISI).
Active rig counts slipped in US, Canada
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
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.