Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/c8c85ec6d4196f665d382aa5ec114f43.jpg)
Housing Starts Slip in May
Written by Sandy Williams
June 19, 2016
Housing starts in May fell 0.3 percent from April’s revised estimate of 1,167,000 to a seasonally adjusted annual rate of 1,138,000, according to the Department of Commerce. The rate, however, was 9.5 percent above the May 2015 estimate. The month-to-month slip was due to construction of fewer multi-family housing units.
“Despite May’s relatively flat report, our builders are telling us that the market is improving and consumers are more ready and willing to make a home purchase,” said NAHB Chairman Ed Brady.
NAHB chief economist Rob Dietz said the rise in builder confidence this month and the year-over-year rise in single family starts are indicators for further growth in housing production. “However, builders continue to face supply-side constraints, such as shortages of buildable lots and labor,” said Dietz.
Building permit authorizations, an indication of future construction, rose by 0.7 percent from April to a SAAR of 1.138 million, from a revised April rate of 1.130 million. Single family authorizations were down by 2 percent from April but permits for multifamily units of five or more were up 6.7 percent.
Regional data
Regionally, combined single-and multi-family starts rose in the West and South, 14.4 percent and 1.5 percent, respectively. Midwest starts dipped 2.5 percent while the Northeast fell 33.3 percent. Single family starts were up in the Northeast, South and West.
Combined permit authorizations increased 15.3 percent in the West while the rest of the regions registered losses: South down 1.4 percent, Northeast down 7.8 percent, and the Midwest down 9.2 percent.
![](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.