Steel Products
ABI Continues Upward Trend
Written by Sandy Williams
August 22, 2013
The Architecture Billings Index jumped to 52.7 in July from 51.6 in June indicating a growing demand for construction design activity. The new project inquiry index, an indicator for future demand, surged 4.1 points to 66.7 in July.
“There continues to be encouraging signs that the design and construction industry continues to improve,” said American Institute of Architects Chief Economist, Kermit Baker. “But we also hear a wide mix of business conditions all over the country, ranging from outstanding and booming to slowly improving to flat. In fact, plenty of architecture firms are reporting very weak business conditions as well, so it is premature to declare the entire sector has entered an expansion phase.”
Regional indexes for July, based a three month moving average, were Northeast 54.3, South 54.2, West 51.1 and Midwest 50.8, compared to June at 55.6, 54.8, 51.2 and 48.3, respectively.
Considered a leading indicator, the ABI represents a nine to twelve month forecast of the relationship between architecture billings and construction spending. Any score above 50 indicates an increase in billings. (Source: American Institute of Architects)

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

US rig count up, Canada declines
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US rig counts expanded for a second straight week, while Canadian activity continued its seasonal slowdown of eight consecutive weeks.

US, offshore CRC prices continue to diverge
US cold-rolled (CR) coil prices declined again this week, slipping for a third straight week. Most offshore markets did the opposite, moving higher this week.

S232 lifts EU HR price over US, Asian HR still well behind
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.

SMU Steel Demand Index dips into contraction
SMU’s Steel Demand Index has moved into contraction, according to late April indicators. The slowdown comes in response to growing tariff uncertainty after the index reached a four-year high in late February.

Nucor selects Fives Group for new galv line at CSI
Nucor Corp. has tapped Fives Group as its partner in designing and manufacturing the new continuous galvanizing line being added at its California Steel Industries (CSI) joint venture in Fontana, Calif.