Steel Markets

Case-Shiller Index Shows Rising Home Prices in June
Written by Sandy Williams
August 26, 2020
Home prices rose 4.3 percent in the June S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, matching the annual gain in May.
The 20-city composite posted a 3.5 percent gain, slipping slightly from 3.6 percent in the previous month. Phoenix, Seattle and Tampa led the increases with year-over-year gains of 9.0 percent, 6.5 percent and 5.9 percent, respectively. Due to COVID-19-related delays, no data was reported for the Detroit metro area. Of the 19 cities reporting, five cities reported higher annual gains in June.
On a month-over-month basis, the 20-City composite increased 0.2 percent.
“Housing prices were stable in June,” says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “More data will be required to understand whether the market resumes its previous path of accelerating prices, continues to decelerate or remains stable. That said, it’s important to bear in mind that deceleration is quite different from an environment in which prices actually fall.”
Although home prices keep climbing, low mortgage rates are enticing potential buyers who base purchases on monthly payments rather than overall price. With demand high, inventory low and prices continuing to rise, some analysts suggest affordability will become a greater concern.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.
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.
