Steel Markets

Dodge Momentum Index Tepid in February
Written by Sandy Williams
March 7, 2018
The Dodge Momentum Index, a monthly forecast of nonresidential construction, increased just 0.5 percent in February. The marginal increase was due to an 8.2 percent rise in the institutional component that was offset by a 4.8 percent contraction in the commercial component.
Dodge says that although the commercial component has declined for two months straight, it should not be taken as an “outright decline in construction activity.” Instead, commercial construction is expected to ease in 2018 as more vacancies appear at offices and warehouses.
Institutional building construction has been supported by state and local bonds issued for schools and other institutional buildings.
In February, 16 projects each with a value of $100 million or more entered planning. The $450 million MSG Sphere Arena in Las Vegas and the $412 million St. Jude’s Children’s Hospital Research Center in Memphis led the institutional sector. Leading commercial projects were the $280 million first phase of the Sentinel Data Center in Sterling, Va., and a $150 million mixed-use project in San Jose, Calif.
The Dodge Momentum Index, published by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which has been shown to lead construction spending for nonresidential buildings by a full year.
Below is a graph showing the history of the Dodge Momentum Index. You will need to view the graph on our website to use its interactive features; you can do so by clicking here. If you need assistance logging into or navigating the website, please contact Brett at 706-216-2140 or Brett@SteelMarketUpdate.com.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

CRU: US longs market holds steady despite tariff pressures
he US longs market remained stable this month despite ongoing challenges from tariff-impacted imports, even as end-use demand was relatively unchanged and scrap prices held flat in August.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.