Steel Markets
January ABI Suggests Upturn in Construction
Written by Sandy Williams
February 21, 2020
Architecture firms reported an increase in business in January. The American Institute of Architects’ Architecture Billings Index rose to 52.2 last month, compared to a revised score of 52.1 in December. New project inquiries and new design contracts for nonresidential construction posted scores of 57.9 and 56.0, respectively.
“Despite the continued presence of volatility in the economy, design activity has begun to accelerate in recent months,” said AIA Chief Economist Kermit Baker. “Even with the ongoing challenges facing the nonresidential construction sector, this upturn points to at least modest growth over the coming year.”
The three month averages by region were South (56.7), West (52.1), Midwest (51.3), and Northeast (45.3).
Averages by sector were mixed practice (51.6), commercial/industrial (51.5), multi-family residential (51.2), and institutional (51.1).
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Drilling activity slows in US but picks up steam in Canada
Oil and gas drilling in the US slowed for a third consecutive week, while activity in Canada hovered just shy of the 19-week high reached two weeks prior.
SMU Survey: Buyers remain leery of tariffs, but more see reshoring happening
This week’s SMU survey reveals that a growing number of steel market participants are weary of tariffs and are awaiting evidence of progress reshoring. At the start of 2025, now-second-term President, Donald Trump, pronounced that his plan to implement tariffs would result in increased revenue for the US.
Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.
Plate prices slip even as mills officially keep tags unchanged
US plate market participants are not fazed by the constricted nature of the current spot market pricing environment. Right now, they said, mill’s choosing to hold prices from one month to the next makes sense because service centers remain amply supplied and demand is stable. Modest upticks or slips in prices are aligned with most of the participants' expectations right now.
Still no cure for the summertime HR market blues
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]