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

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

Sheet market participants say sales still in a slump
Across the US and throughout the steel supply chain, market participants are reporting another painfully quiet week for hot-rolled (HR) coil sales.

CRU: Lower sheet prices have pulled back demand for imports
Domestic sheet prices in the US remained under pressure, limiting interest in imports, while domestic prices for longs products continued to rise.

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.