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
US steel imports edge higher in July, fall back in August
July represents the second-lowest monthly rate for steel imports so far this year.
CRU Insight: Decarbonization will reshape global steel trade flow
This CRU Insight explores how decarbonization will play a significant role in redefining steel trade patterns by shifting regional competitiveness and increasing steel demand needs.
Steel Summit 2024: Leading analysts forecast coming year for steel
Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.
AISI: Raw steel output jumps, capability surpasses 80%
Having risen for three weeks in a row, weekly production is now at the highest rate seen since February 2023.
Monthly steel output falls in China, rises in RoW
Global steel output fell 5% in July according to World Steel Association’s (worldsteel) latest release. Total steel mill production around the world tallied up to 152.8 million metric tons (mt) for the month of July, the second-lowest monthly rate seen this year.