Steel Markets
Dodge Momentum Index Indicates Nonresidential Recovery for 2015
Written by Sandy Williams
January 14, 2015
The Dodge Momentum Index, a monthly measure of initial reports for nonresidential building projects in planning, rose 4.0 percent from a revised 123.8 in November to 128.7 in December. The reading is the highest since February 2009 and an increase of 17 percent year over year.
“The increases seen in the Index in 2014 are a signal that the construction recovery will continue into 2015,” wrote Dodge in the latest report.
Planning activity in the commercial sector rose 4.1 percent in December with nine commercial building projects exceeding $100 million that began the planning stage during the month. Project planning in the institutional sector rose 3.8 percent.
The Dodge Momentum Index, published monthly by Dodge Data & Analytics, leads construction spending by a full year and can be used an indicator for future construction. Any reading above 100, established for year 2000, indicates growth in construction planning. The Dodge Index is of particular interest to the steel community due to the higher use of steel products in nonresidential construction.
Below is an interactive graphic of the Dodge Momentum Index History, but it can only be seen when you are logged into the website and reading the newsletter online. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.
{amchart id=”125″ Dodge Momentum Index}
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Hot-rolled coil buyers continue seeing certainty
Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored.
Latin American steel advocates warn on cheap import flood
Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.
CRU: Steel prices fall amid global demand weakness
The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.
Hot-rolled price hikes garner mixed reactions from the market
Several steel market sources say they were blindsided when mills increased spot prices for hot-rolled coils this week.
Steel market participants mull the impact of US/Mexico S232 negotiations
Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK.