Steel Markets

New Home Sales Tumble in March
Written by Sandy Williams
April 23, 2015
New home sales fell 11.4 percent in March for the biggest decline since July 2013. The seasonally adjusted annual rate was 481,000 below the forecast of 515,000. Analysts, however, say the drop is not as worrisome as it looks, coming off a strong revised February sales pace of 543,000 from a previously reported 539,000. Home sales have been erratic on a monthly basis but still exceed 2014 levels.
Home prices fell slightly in March with the median home price of $277,400 down 1.7 percent from a year ago. The average sales price was $343,300.
The seasonally adjusted estimate of new houses for sale at the end of March was 213,000—a supply of 5.3 months at the current sales rate.
Regionally, sales dropped 33 percent in the Northeast, 15.8 percent in the South, and 3.4 percent in the West. The Midwest saw sales rise by 5.9 percent from the previous month.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Metalforming manufacturers predict stagnant market: PMA Business Conditions Report
Most of the surveyed US and Canadian metalforming manufacturers expect general economic activity to remain steady over the next three months.

CRU: Global sheet prices remain under pressure as exporters undermine domestic markets
One cause of this was increased competitiveness from imports that have put pressure on some domestic producers.

CRU: Sheet import demand softens as domestic price gains have slowed
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.

CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.

US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.