Steel Markets
Dodge Momentum Index Declines for Second Month
Written by Sandy Williams
October 8, 2018
Planning activity for construction of nonresidential buildings declined in September, according to the latest Dodge Momentum Index. The Index slid 2.6 percent to a reading of 159.5.
Both commercial and institutional planning projects were lower in September, falling 4.3 percent and 0.1 percent, respectively. The Index has dropped for two consecutive months, but on a quarterly basis is 0.8 percent higher than in the second quarter of this year.
Dodge Data & Analytics said the decrease can be attributed to “outsized gains” in the late spring and summer. “In fact, the Momentum Index is now returning to a more sustainable level of activity given the overall age of the current construction cycle,” said Dodge.
Twelve projects valued at $100 million or more entered the planning stage during September.
The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Steady architecture billings signal improving conditions
The November ABI decreased month over month but was still the third-highest reading of the past two years.
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Latin America’s steel industry grapples with declining demand, rising imports
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.