Steel Markets
Institutional Sector Leads Dodge Momentum Index in April
Written by Sandy Williams
May 7, 2021
The Dodge Momentum Index gained 8.6% in April, jumping to 162.4. The index has rebounded 77% from its nine-year low in January. Compared to April 2020, the first full month of COVID-19 shutdowns, the index is 31% higher, said Dodge Data & Analytics.
Construction projects in healthcare and laboratories are driving the institutional sector’s 50% year-over-year increase. The commercial sector softened somewhat in April as fewer warehouse projects entered the planning phase but is still 21% higher than a year ago.
Thirteen projects valued at $100 million or more entered the planning stage last month. “April’s data highlights the nascent recovery underway in institutional building,” said Dodge. “However, given the average length of time between planning and project start, this rise will likely not impact construction starts until late 2021 or early 2022.”
The Dodge Momentum Index is a monthly measure of the first report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
AISI: Raw steel production rises for second consecutive week
Domestic raw steel production ticked up again last week, now up to a three-week high according to the latest data released by the American Iron and Steel Institute (AISI).
Wolfe Research’s Tanners cautions on sheet storm’s darkening clouds
Wolfe Research Managing Director Timna Tanners cautioned clients about the darkening clouds of a brewing steel sheet storm in the company's Basic Materials Weekly Webcast on Monday. “This one we’ve been talking about for a while, and we feel like the theme is coalescing here,” she said.
Dodge Momentum Index rebounds on surge of data center planning
A surge in data center project planning pushed the Dodge Momentum Index (DMI), a leading indicator for the nonresidential construction sector, higher in April.
US construction spending levels off in March
Construction spending in the US in March was basically steady from the previous month but showed notable year-on-year (y/y) growth.
CRU: Brazil proposes quotas on steel imports, with tariff back up
Brazil’s chamber of foreign trade, Camex, has approved quotas on imports of 11 steel products and a 25% levy on shipments 30% above a product’s average import volume between 2020 and 2022.