Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/c168b6e6a9ebcb72eb1b0fcf1b4dd3ca.jpg)
Housing Starts Slow in December
Written by Sandy Williams
January 21, 2016
Housing starts and permit authorizations fell from November to December, according to the U.S. Department of Commerce report, despite unseasonably warm temperatures. The drop surprised economists who expected gains from the mild weather and from the positive report of construction jobs added in December.
Housing starts were at a seasonally adjusted annual rate of 1,149,000, down 2.5 percent below November’s revised rate, but 6.4 percent higher than the Dec. 2014 estimate.
Single-family housing starts in December were at a rate of 768,000; and the rate for buildings with five units or more was 365,000.
For the year 2015, an estimated 1,111,200 housing units were started, a 10.8 percent gain from 2014.
Building permits fell 3.9 percent from the revised November of 1,282,000 to a seasonally adjusted annual rate of 1,232,000.
Single-family authorizations in December increased 1.8 percent from November to a rate of 740,000. Multiple unit authorizations fell in December. Authorizations of units in buildings with five units or more were at a rate of 455,000 in December, a drop of 13.5 percent from the previous month but up by 23.6 percent compared to a year ago.
An estimated 1,178,400 housing units were authorized by building permits in 2015. This is 12.0 percent above the 2014 figure of 1,052,100.
Housing completions in December were at a seasonally adjusted annual rate of 1,013,000; 5.6 percent above the revised November estimate of 959,000 and 7.9 percent above the December 2014 rate of 939,000.
Single-family housing completions in December grew 8.8 percent from November to a rate of 696,000. December rate for units in buildings with five units or more was 307,000.
An estimated 965,700 housing units were completed in 2015, a 9.3 percent increase from the 2014 figure of 883,800.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/GrafTech.jpg)
GrafTech’s Q2 loss widens in ‘challenging’ business environment
GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/canacero-logo.png)
Op-Ed: The myth of the Mexican steel surge
We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/graph_up_arrow.png)
Influx of coated products fuels recent import surge
Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.