Steel Markets
Dodge Momentum Index Higher in April
Written by Sandy Williams
May 7, 2018
The Dodge Momentum Index, a first report for nonresidential building projects in planning, jumped 6.1 percent in April to 163.0. Commercial and institutional components of the Index both rose 5.3 percent and 5.8 percent, respectively.
“Over the last two months, the commercial portion of the Momentum Index has posted the most aggressive growth, fueled by continued low vacancy rates for commercial buildings, as well as the potential benefits from the tax cuts passed in December,” said Dodge Analytics. “The gains for the institutional component, while healthy, have been more moderate, reflecting the ebb and flow of public funding for larger education and public building projects.”
There were 12 projects with a value of $100 million or more that entered the planning stage in April. Commercial planning included a $200 million office building in Boston and a $174 million building in Atlanta. The leading institutional projects were a hospital in San Luis Obispo, Calif., and a training center in Pelham, Ala.
The Momentum Index, published monthly by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
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.
US sets Section 232 tariffs on trucks and buses
Medium- and heavy-duty trucks (MHDV) and buses imported to the US will start being charged Section 232 tariffs beginning Nov. 1.
Hot-rolled sources say demand continues to dwindle, prices feel arbitrary
Genuine demand, they stated, will return when the market feels stable again.