Tag: Construction

Nucor expects steel mill shipments to grow closer to the upper end of its 5-10% range in 2026, President and COO Steve Laxton said on the company’s third-quarter earnings call on Tuesday. He cited demand from infrastructure, reshoring, digital infrastructure, and energy investment as demand drivers. A presentation released with the company’s Q3’26 earnings report said manufacturing construction spending remained near $170 billion annually, with activity broadening beyond chip plants to include power equipment, aerospace and defense, pharmaceuticals, and automotive. Data center construction spending doubled from 2024 to 2026, with a 20% compound annual growth rate projected through 2031.

Reliance Inc. posted a third-quarter profit more than double that of a year ago on record quarterly sales. The stellar result came thanks to higher steel prices and a jump in tons sold. A government contract for the US border wall with Mexico drove a significant portion of those gains, the company said. And the Phoenix-based service center chain, North America’s largest, predicted that profits would continue to surge in the fourth quarter despite concerns about steel availability and geopolitical instability.

Architecture firms reported weaker business conditions in September, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects and Deltek. The share of firms reporting declining billings was the largest since May. The September ABI fell two and a half points from August to a four-month low of 44.7. The ABI has been in contraction for all but two months since August 2022, indicating continually weakening business conditions following the post-pandemic rally. The ABI is a typical leading indicator of nonresidential construction activity, leading construction spending by approximately 9–12 months.

Manufacturing activity improved in several Federal Reserve districts, but conditions remained mixed nationwide, according to the Fed’s Oct. 14 Beige Book report. Demand was strongest in steel, machinery, defense-related products, and data center infrastructure. Steel producers in the Cleveland District reported firm spot market demand. Data center, power-generation, defense, and aerospace projects supported orders. Long mill lead times kept customer inventories lean and prices high. Producers also reported higher orders from truck-trailer and light-vehicle manufacturers. International demand for hydrogen vehicle parts increased.

Ken Simonson, chief economist for the Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, Oct. 28, at 11 a.m. ET. What will we talk about? On the one hand, a steel-intensive data center boom continues to outstrip even the most bullish steel-demand forecasts. On the other hand, some more traditional construction markets are struggling. What happens if the data boom falters?

The Dodge Momentum Index (DMI) expanded in September, according to the most recent report from the Dodge Construction Network (DCN).

The American Institute of Architects (AIA) said slightly fewer firms reported a decline in billings in August than in July, but the headline index reading remained in contraction.

The Dodge Momentum Index (DMI) edged down in August from a downwardly revised July reading.

Manufacturing picked up across 10 of the 12 Federal Reserve districts. It was again one of the stronger sectors in the Fed's Sept. 2 Beige Book report.

Data center construction is supporting US nonresidential construction activity and steel demand, according to Eric Gaus of Dodge Construction Network.

“I think this will be a year of economic growth,” the economist said in his Sylvester Stallone-themed keynote discussion at the SMU Steel Summit this week in Atlanta. He estimates real GDP growth of about 2.0-2.3%.

CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.

Architecture firms reported a modest decline in billings in July, with business conditions remaining soft, according to the latest Architecture Billings Index (ABI) release. The report indicates that the broader economy remained mixed and architecture services employment declined for the fourth consecutive month.

The Dodge Momentum Index (DMI) rose in July, up from an upwardly revised June reading.

Spot market absorbs price hikes amidst booming plate demand 

Aluminum Dynamics plans to invest more than $200 million to develop a recycled slab center in Lowndes County, Miss., establishing the permanent location for a project relocated from Arizona earlier this year.

Despite persistent pricing uncertainty, the Fed's latest Beige Book reported that the US economy continued to expand at a modest pace with labor market conditions improving.

Industrial construction and steel fabricator JGM has announced leadership changes.

During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.

The American Institute of Architects (AIA) said architecture billings showed signs of cooling in May, with the headline index reading notably below 50.

The Dodge Momentum Index (DMI) grew in May, up from a downwardly revised April reading. Gains were again driven by data centers, though healthcare, retail, and office grew vs. April.

Atlas Tube, a Zekelman company, said on Friday it has agreed to form a joint venture with Maruichi USA.

Architecture firm billings retreated modestly in April, with the American Institute of Architects (AIA) reporting another month below the growth threshold.

The construction market is seeing activity from data centers and the energy infrastructure to support them. But other factors are dragging the sector down: The Iran war is spiking inflation; tariffs are driving up material costs; and immigration crackdowns are hurting labor.

Service centers held only 2.24 months of supply (49.3 days of supply) of sheet products in March, according to our latest figures. If you check our archives, you’ll see that's the lowest sheet inventories we’ve seen since June 2021 – which was hardly a bad year for steel.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

What a local media report described as an "explosion" on Friday night at U.S. Steel's Gary Works in Northwest Indiana has not disrupted production or resulted in any injuries, that company said.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

The Dodge Momentum Index (DMI) increased in March, but only from a downwardly revised February reading, and data centers were the only area to show positive growth.

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.