Steel Markets
Case-Shiller Home Price Index Up 3.3 Percent
Written by Sandy Williams
January 2, 2020
S&P Dow Jones reported that the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index gained 3.3 percent in October, compared to 3.2 percent in the previous month. The 20-City composite posted a 2.2 percent year-over-year gain, while the 10-City composite rose 2.2 percent.
“October’s U.S. housing data continue to be reassuring,” says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “With October’s 3.3 percent increase in the national composite index, home prices are currently more than 15 percent above the pre-financial crisis peak reached July 2006. October’s results were broad-based, as both our 10- and 20-city composites rose. Of the 20 cities in the composite, only San Francisco saw a year-over-year price decline in October.”
Phoenix led the home price gains for a fifth month, up 5.8 percent year-over-year. Tampa, Charlotte and Atlanta saw prices rise by more than 4.0 percent in October.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
President Trump intends to set additional steel tariffs
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.
USS, government officials give update on Clairton Coke Works incident
U.S. Steel, Allegheny County executive Sara Innamorato, and Pennsylvania Gov. Josh Shapiro clarified details from early reports about the Clairton Coke Works facility explosion just one day earlier.
Hot-rolled spot market conditions linger, prices slip
Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.
Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
Dodge Momentum Index surges in July
The Dodge Momentum Index (DMI) jumped 20.8% in July and is now up 27% year-to-date, according to the latest data released by Dodge Construction Network.