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

Cliffs talks DOE funding, blast furnace relining schedule
The future of two projects supported in part by funding through the Department of Energy remains uncertain.

Cleveland-Cliffs open to asset sales
Meanwhile, its Canadian operations have been hurt by the broader tariffs proposed by the United States.

As Q1 loss balloons, Cliffs pledges to cut costs, streamline operations
Cleveland-Cliffs Inc. gushed red ink in the first quarter, and pledged to stem the bleeding by idling inefficient, “loss-making operations” and increasing focus on its core automotive business.

Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.

CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.