Steel Markets

Dodge Momentum Index Stalls in May
Written by Sandy Williams
June 5, 2015
The Dodge Momentum Index was unchanged in May at 122.3. The Index, a monthly measure of the initial report for nonresidential building projects in planning, has been flat so far in 2015 after growing in 2014.
Although, May activity was at a standstill, the Index was still 6.1 percent higher compared to a year ago. Dodge Data & Analytics expects planning to regain its upward trend as market fundamentals for commercial real estate improve and state and local funding is provided for public construction projects.
In May, planning for institutional building increased 3.1 percent while commercial dropped 2.2 percent. Eight institutional projects of $100 million or more hit the drawing boards in May and six projects commenced planning in commercial building. Planning, measured by the Index, leads construction spending for nonresidential buildings by a full year.
Richard Branch, Senior Economist for Dodge Data and Analytics, will be one of our speakers at this year’s Steel Summit Conference in Atlanta. Details can be found on our website.
Below is a screen capture of our Dodge Momentum Index interactive graphic, the interactive version can be seen on our website here. If you need any assistance logging in or navigating the website, contact us at info@SteelMarketUpdate.com or 800-432-3475.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Steel market shakes tariffs off amid weak demand
Service centers and distributors contend that weak demand is to blame for the flattening of domestic steel spot prices, as reflected in Nucor Steel’s weekly Consumer Spot Price (CSP) notice. On Monday, the Charlotte, North Carolina-headquartered steel producer left prices unchanged from the previous week. Nucor has maintained prices of plate produced in Brandenburg since March 28.

SMU’s May at a glance
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through May 30.
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.