Steel Mills
Dodge Momentum Index Down 8.4% in Jan.
February 7, 2023
The Dodge Momentum Index (DMI) declined 8.4% in January to 201.5 from the revised December reading of 220.0, according to data and analytics from the Dodge Construction Network (DCN).
Additionally, the commercial component of the DMI dropped 10.0% and the institutional component receded 4.7%, respectively, last month.
“The Dodge Momentum Index weakened in January, after 10 consecutive months of gains,” Sarah Martin, associate director of forecasting for Dodge Construction Network, said in a statement. “While planning activity slowed, the Index remains elevated, and the volume of projects remains steady.”
Looking forward, she said DCN expects the index to work its way back towards historical norms this year, “in tandem with weaker economic growth.”
DCN said a total of 26 projects with a value of $100 million or more entered planning in January.
An interactive history of the Dodge Momentum Index is available on our website. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com
Dodge is the leading index for commercial real estate, using the data of planned nonresidential building projects to track spending in the sector for the next 12 months.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills
USW seeks clarity on plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).