Steel Mills
Dodge Momentum Index Down 8.4% in Jan.
February 7, 2023
The Dodge Momentum Index (DMI) declined 8.4% in January to 201.5 from the revised December reading of 220.0, according to data and analytics from the Dodge Construction Network (DCN).
Additionally, the commercial component of the DMI dropped 10.0% and the institutional component receded 4.7%, respectively, last month.
“The Dodge Momentum Index weakened in January, after 10 consecutive months of gains,” Sarah Martin, associate director of forecasting for Dodge Construction Network, said in a statement. “While planning activity slowed, the Index remains elevated, and the volume of projects remains steady.”
Looking forward, she said DCN expects the index to work its way back towards historical norms this year, “in tandem with weaker economic growth.”
DCN said a total of 26 projects with a value of $100 million or more entered planning in January.
An interactive history of the Dodge Momentum Index is available on our website. If you need assistance logging into or navigating the website, please contact us at info@SteelMarketUpdate.com
Dodge is the leading index for commercial real estate, using the data of planned nonresidential building projects to track spending in the sector for the next 12 months.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills
USW says opposing USS/Nippon deal is First Amendment right, seeks lawsuit dismissal
The union says the suit is "a frivolous and unsubstantiated attack on our union simply for exercising our First Amendment rights."
AISI: Weekly raw steel output ticks higher
The volume of raw steel produced by US mills slightly increased last week, according to American Iron and Steel Institute (AISI) data. Last week’s production rate represents the second-highest level recorded this year.
Opening briefs filed in Nippon/USS lawsuit vs. US government
Together, Nippon Steel, Nippon Steel North America, and U.S. Steel announced the filing of their opening brief in their litigation to invalidate the government’s decision to block their announced merger. The brief lays out “how President Biden made a predetermined decision for political reasons, not national security, causing CFIUS to engage in a sham review […]
Cliffs blames muted auto demand for steep losses in 2024
Muted demand from the auto industry took a particular toll later in the year.
U.S. Steel losses widen, better times seen as BR2 ramp-up continues
U.S. Steel’s losses widened in the fourth quarter on lower steel prices, weaker demand, and startup costs relating to the expansion of its Big River Steel EAF sheet mill in Arkansas. But the Pittsburgh-based steelmaker said it expected results to improve in 2025 as Big River 2 – the project to double capacity at the Osceola, Ark., mill - gains steam.