Analysis

Canada Housing Permits Muted
Written by Sandy Williams
June 7, 2014
Building permit values in Canada rose 1.1 percent to $6.0 billion in April following two months of decline. Building intentions for the residential sector offset the decline in nonresidential.
Commercial sector permit values fell 14.8 percent to $1.3 billion in April. The decline followed a 0.3 percent gain the previous month and put commercial permit values at the lowest level since March 2013.
Authorized permits for residential dwellings in April totaled 15,416, a 3.2 percent decline from the previous month. Multifamily permits declined by 6 percent to 9,641 units while single-family authorizations rose 2 percent to 5, 775 units.
From January to April 2014 63,851 units were authorized, compared to 64,147 in the same period in 2013. Multifamily units accounted for 63 percent of residential permit authorizations in the first four months of this year.
Canada Mortgage and Housing Corporation expects housing starts to range between 172,300 and 189,900 units in 2014 and 160,600 to 203,600 units in 2015.
 
			    			
			    		Sandy Williams
Read more from Sandy WilliamsLatest in Analysis
 
		                                Key takeaways from CRU’s US Ferroalloys Connections Summit
CRU analysts break down their top takeaways from CRU's 31st Annual Ferroalloys Connections Summit, held Oct. 19-21 in Miami.
 
		                                SMU Steel Demand Index improves but remains in contraction
SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.
 
		                                SMU Survey: Steel Buyers’ Sentiment Indices increase
SMU’s Steel Buyers’ Sentiment Indices both rose this week, with Current Sentiment rebounding 14 points.
 
		                                Final Thoughts
Sometimes an entire news cycle happens in one week.
 
		                                SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
