Steel Markets

Home Price Growth Not Deterred by Pandemic
Written by Sandy Williams
May 26, 2020
Home prices rose 4.4 percent in March compared to a year ago and 4.2 percent from February, according to the latest S&P Core Logic Case Shiller Index.
The 20-City Composite edged up 3.9 percent from 3.5 percent in February. The Composite was short one city, Detroit, due to reporting delays related to the COVID-19 pandemic.
“March’s data witnessed the first impact of the Covid-19 pandemic on the S&P CoreLogic Case-Shiller Indices,” said Craig Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “That said, housing prices continue to be remarkably stable.”
The March increases continued a trend of gently accelerating home prices that began last autumn., he added. “March results were broad-based. Prices rose in each of the 19 cities for which we have reported data, and price increases accelerated in 17 cities.”
Phoenix, Seattle and Charlotte had the highest year-over-year gains at 8.2 percent, 6.9 percent and 5.8 percent, respectively.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

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.

FabArc Steel Supply completes projects in Mississippi, Georgia
FabArc Steel Supply announced this week the completion of two large-scale projects in Georgia and Mississippi.

Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.