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
Active rig counts slip in US and Canada
The number of active rigs in the US is now at the lowest level seen in over two years, while Canadian rigs have fallen to a four-month low.
GrafTech continues to bleed red on weak demand
GrafTech is reporting weak near-term demand for graphite electrodes as economic uncertainty constrains steel production globally.
Worldsteel projects steel demand to grow 1.7% this year
Global steel demand will reach roughly 1.793 million metric tons (1.976 million short tons) this year, an increase of 1.7% over 2023, the World Steel Association (worldsteel) said in its updated Short Range Outlook report. The gain will come after a 0.5% contraction in steel demand in 2023. Demand is forecasted to increase another 1.2% […]
February construction spending steady, shows solid y/y improvement
US construction spending in February was mostly steady from January but showed significant gains from last year.
February imports ease from seven-month high
After reaching a seven-month high in January, steel imports fell back 3% in February, according to preliminary Census data released earlier this week.