Steel Markets
Dodge Momentum Index Up 0.6% in April
Written by Sandy Williams
May 7, 2016
The Dodge Momentum Index rose 0.6 percent in April to 116.5 from a revised March reading of 115.8. Planning for commercial construction increased 0.8 percent and institutional planning rose 0.4 percent.
Institutional planning, although volatile on a month-to-month basis, continues to recover and is now seven percent above year ago levels. The pace for commercial construction planning has been subdued and as a result the overall index is essentially unchanged from April 2015.
Six projects, valued at more than $100 million, entered the planning stage in April.
The Dodge Momentum Index, published by Dodge Analytics, is a measure of the initial report for nonresidential building projects and has been show to lead construction spending for nonresidential buildings by a full year. The index is created by summing the dollar value of Dodge’s first-reported nonresidential building projects in planning during a given month. The data is seasonally adjusted and a three-month moving average is applied to reduce the volatility and random variation in the monthly data. The resulting smoothed data provides a better fit between the index and construction spending statistics.
Below is a graph showing the history of the Dodge Momentum Index. You will need to view the graph on our website to use it’s interactive features, you can do so by clicking here. If you need assistance with either logging in or navigating the website, please contact our office at 800-432-3475 or info@SteelMarketUpdate.com.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Week in Review: Sept. 29 -Oct. 3
Let’s take a quick tour of some key stories from SMU in the week of Sept. 29 - Oct. 3.
Hot-rolled coil sources lament stagnant conditions
Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
ITC’s final ruling: Dumped, subsidized CORE imports are harming domestic market
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.
HR buyers report mixed market conditions
Hot-rolled coil market participants said they’re staying on their toes amid a market that continues to be characterized by uncertainty. A veteran Midwest-based service center operator contends that current conditions are unprecedentedly volatile. Being flexible with customers and strategic with mills is the only way to navigate through the uncertainty, he said. “No one wants […]