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    Analysis

    July 29, 2019

    Case-Shiller Index Reports Slowing Home Prices in May

    Written by Sandy Williams

    Home prices continued to rise in May but at a much slower pace, according to the latest S&P CoreLogic Case-Shiller National Home Price NSA Index. The Index showed an annual gain of 3.4 percent in May, down from 3.5 percent in April. The 20-City Composite price growth slipped to 2.4 percent from 2.5 percent the previous month.

    Las Vegas, Phoenix and Tampa reported the highest year-over-year gains among the 20 cities—6.4 percent, 5.7 percent and 5.1 percent, respectively. Seven of the 20 cities reported greater price increases in the year ending May 2019 versus the year ending April 2019. On a month-over-month basis, the National index increased 0.2 percent and the 20-City Composite 0.1 percent.

    Sandy Williams

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    November scrap prices rise as market nears settle

    November scrap procurement has commenced in the US with buyers divided on the price increases from the previous month. Several mills reportedly sought a rise of $20 per gross ton (gt) while others saw $30/gt as the number. The $30/gt price tag mainly applies to the obsolete grades, like shredded, P&S and #1 HMS, with prime grades pulling up the rear at $20. SMU spoke to a Chicago-based source who said that market was up $30/gt and 20/gt on shredded and busheling, respectively. He also mentioned the integrated mills in this district are after heavier grades like P&S and railroad grades, like wheels. These grades have been in short supply since last summer. Our source believes they commanded prices up $30/gt while busheling was at plus $20.