Steel Markets
Canada Building Permits Values Rise Sharply in June
Written by Sandy Williams
August 7, 2014
Building permits in Canada rose in value by 13.5 percent in June to $8.0 billion according to the latest data from Statistics Canada. The jump in value surprised market analysts who were expecting a 2.0 percent decline from May.
Quebec non-residential construction intentions led the increase, rising 32.5 percent to $3.8 billion. Residential permits increased in value by 0.4 percent to 4.2 billion, a fourth consecutive monthly increase.
Non-Residential
Permit values in the institutional sector more than doubled in value to $1.3 billion in June. Industrial construction intentions rose 63.9 percent to $744 million mostly for information technology buildings in Quebec and utilities buildings in Ontario. Commercial building permits were valued at $1.8 billion in June, down 2.1 percent from May.
Residential
Residential permit values for single-family dwellings increased 5.5 percent to $2.4 billion. Single-family permit authorizations were up 6.9 percent from May to 6,568 units.
Values for multi-family construction intentions fell 6 percent to $1.7 million after three consecutive monthly increases. Multi-family permit authorizations fell 10.7 percent to 10,202 units in June.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
HVAC shipments slip in September but are still trending higher
Following a strong August, total heating and cooling equipment shipments eased in September to a five-month low, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
GrafTech Q3 loss widens as electrode demand remains soft
GrafTech International’s third-quarter net loss increased from last year, with the company anticipating continuing weakness in near-term demand for graphite electrodes.
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.
Primetals secures long-term maintenance deals in the Americas
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
Steel imports slip 10% from August to September
September marked the lowest month for steel imports so far this year, according to preliminary Census data released by the Commerce Department.