Steel Markets

New Home Sales Drop Sharply in December
Written by Sandy Williams
January 25, 2017
New residential sales of single-family homes fell 10.4 percent from November’s revised rate of 598,000 to a seasonally adjusted annual rate of 536,000 in December. The U.S. Census Bureau and the Department of Housing and Urban Development reports year-over-year sales were down 0.4 percent.
The drop in December was much sharper than expected by economists. Wall Street Journal economics expected a decrease of 1.5 percent while Reuters expected a dip of just 1.0 percent.
The median price of new homes in December was $322,500 and the average sales price was $384,000. Inventory stands at a seasonally adjusted estimate of 259,000 houses at the end of December. At the currently sales rate, this represents a supply of 5.8 months.
For the year 2016, an estimated 563,000 new homes were sold, a 12.2 percent increase from 2015.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Buyers say plate market rejected last round of mill hikes
Participants in the domestic steel plate market said the plate market never accepted mill-issued spot price increases.
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Hot-rolled market anticipates no change despite mill mark-ups
Domestic sheet market participants say recent spot price hikes from NLMK USA and Nucor will do little to shake-up stagnant market conditions. Price increases in the current market On Friday Oct. 24, NLMK customers learned that the producer’s hot- and cold-rolled prices increased $50 per short ton (st) and its coated products were $100/st higher. […]
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
AISI: Raw steel production bounces back
Domestic mill production rebounded last week, according to the latest production figures released by the American Iron and Steel Institute (AISI). Production had been historically strong over the summer months before softening in early October.
