Steel Markets
Institutional Sector Leads Dodge Momentum Index in April
Written by Sandy Williams
May 7, 2021
The Dodge Momentum Index gained 8.6% in April, jumping to 162.4. The index has rebounded 77% from its nine-year low in January. Compared to April 2020, the first full month of COVID-19 shutdowns, the index is 31% higher, said Dodge Data & Analytics.
Construction projects in healthcare and laboratories are driving the institutional sector’s 50% year-over-year increase. The commercial sector softened somewhat in April as fewer warehouse projects entered the planning phase but is still 21% higher than a year ago.
Thirteen projects valued at $100 million or more entered the planning stage last month. “April’s data highlights the nascent recovery underway in institutional building,” said Dodge. “However, given the average length of time between planning and project start, this rise will likely not impact construction starts until late 2021 or early 2022.”
The Dodge Momentum Index is a monthly measure of the first 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
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.
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).