Steel Markets

Residential Building Permits in Canada Fall in February
Written by Sandy Williams
April 8, 2014
Building permits authorizations for construction of single and multi-family dwellings in Canada fell 23.8 percent in February and 0.6 percent year over year, according to data by Statistics Canada. Total permits were 14,011 units compared with 18,398 in January and 15,650 in December. Multi-family authorizations fell sharply during the month to 8,289 units, plummeting 29.3 percent from January. Single family permit authorizations slid 14.3 percent compared to the previous month. Value of residential permits dropped 21.1 percent to $3.6 billion from the previous month, marking the third decline in four months.
Non residential construction permit values rose 6.6 percent to $2.5 billion after falling 15.4 percent in January. Values were up 8.3 percent year over year. Commercial permit values led the way for non-residential at $1,497.6 million, down just slightly from the previous month and up slightly year over year. Institutional permit authorization values totaled $672.8 million, up 14.9 percent from February and a strong 53.9 percent year over year. Industrial permit value was $348.4 million for the month, a 26.8 percent increase from the previous month but an 11.8 percent decrease year over year.
Total building permits for non residential and residential fell below analyst expectations, dropping 11.6 percent in February after gaining 8.1 percent the previous month.
(Note: values are in Canadian dollars)

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.

US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.

Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.

Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]

HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).