Market Data
May 17, 2024
Written by Brett Linton
US housing starts ticked up through April following March’s dip, according to the latest data release from the US Census Bureau.
Total housing starts stood at a seasonally adjusted annual rate (SAAR) of 1.36 million units in April, a 6% increase from the multi-year low seen one month prior. Excluding March, the last time total housing starts were this low was last August at 1.31 million units.
The Chicago Business Barometer rebounded in September, returning to expansion after slipping into contraction in August.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.
The latest Manufacturing PMI Report from the Institute for Supply Management (ISM) shows the US manufacturing sector experienced growth in September, albeit at a slightly lower pace than in the month before.
Domestic raw steel output recovered after seeing significant swings in the prior two weeks, according to the latest AISI figures.
The latest tally of active drilling rigs increased in both the US and Canada this week, according to oil and gas rig count data published by Baker Hughes.