Sales rose for both existing and new homes in February. However, buyers are facing availability issues and escalating pricing. The National Association of Realtors reported existing home sales increased to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales were 4.7 percent higher than a year ago. Tight […]
According to Baker Hughes data from March 20th, 2015, the U.S rig count for the week was 1,069 rigs exploring for or developing oil or natural gas. The rig count is down 56 rigs when compared to last week, with oil rigs down 41 to 825 rigs, gas rigs down 15 to 242 rigs, and […]
Continued increases in construction employment are at risk if Congress does not address infrastructure funding, says the Associated General Contractors of America. Increased regulation is also “adding costly new paperwork and reporting requirements for employers” without addressing problems. The report by AGC is reprinted below: Construction firms added jobs in 43 states and the District […]
Housing starts in February declined by 184,000 annualized to 897,000 from 1,081,000 in January. This data is seasonally adjusted by the Census department. The three month moving average, (3MMA) fared much better declining to 1,020,000 from 1,059,000 which was a blip in a steadily improving trajectory, (Figure 1). This was the sixth consecutive month that […]
Below is the latest data issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through December 2014. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for January 2015 increased 11.2 percent, […]
The Dodge Momentum Index rose 4.3 percent to 126.3 in February from 121.1 in January, according to Dodge Data & Analytics. The index has shown volatility over the last three months, up in December down in January and up again in February. On a year over year basis the index is up 17 percent indicating […]
According to Baker Hughes data from March 6th, 2015, the U.S rig count for the week was 1,192 rigs exploring for or developing oil or natural gas. The rig count is down 75 rigs when compared to last week, with oil rigs down 64 to 922 rigs, gas rigs down 12 to 268 rigs, and […]
The following article is normally produced just for our Premium level members. We are sharing the information today with all of our readers. The article is written by Peter Wright, consultant to Steel Market Update, Gerdau and the State of Wyoming. Peter, who is a metallurgist as well as market specialist, is also one of […]
U.S. automotive sales slid during frigid February. Sales were once again led by truck and SUV sales but total sales were less than anticipated. Sales were expected to be eight to nine percent higher than a year ago for a seasonally adjusted annual rate of 16.6 million to 16.7 million. As results came in on […]
According to Baker Hughes data from February 27th, 2015, the U.S rig count for this week is 1,267 rigs exploring for or developing oil or natural gas. The count is down 43 rigs when compared to last week, with oil rigs down 33 to 986 rigs, gas rigs down 9 to 280 rigs, and miscellaneous […]
Sales of new residential single-family homes declined just 0.2 percent in January to a seasonally adjusted annual rate of 481,000, according to estimates by the U.S. Census Bureau and Department of Housing and Urban Development. Sales were 0.2 percent below December’s revised rate but 5.3 percent higher than January 2014. The annual sales rate was […]
The vehicle sales year had a good start in January with 16.7 million units on a seasonally adjusted annualized basis. Light trucks are benefiting from lower gas prices and reached 55 percent of light vehicle sales, the highest since 2014. This is good for the US assembly plants because the US light truck production is […]
Sales of existing homes fell to their lowest rate in nine months in January. Sales dropped 4.9 percent to a seasonally adjusted annual rate of 4.82 million according to the National Association of Realtors. The sales decline was widespread, affecting all regions in the U.S. “January housing data can be volatile because of seasonal influences, […]
Home prices increased slightly in December according to data from the S&P/Case-Shiller Home Price Indices, climbing 4.6 percent year over year in the National Home Price Index. The increase was slightly less than November’s pace of 4.7 percent. On a monthly basis, both the 10- and 20-City Composites reported increases of 0.1 percent in December. […]
According to Baker Hughes data from February 20th, 2015, the U.S rig count for this week is 1,310 rigs exploring for or developing oil or natural gas. This count is a decrease of 48 rigs when compared to last week, with oil rigs down 37 to 1,019 rigs, gas rigs down 11 to 289 rigs, […]
Housing starts in January declined by 22,000 annualized to 1,065,000 from 1,087,000 in December. This data is seasonally adjusted by Census department. The three month moving average (3MMA) fell to 1,056,000 but is still on a steadily improving trajectory, (Figure 1). This was the fifth consecutive month that the 3MMA of starts exceeded a million […]
Below is the latest data issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through December 2014. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for December 2014 increased 12.0 percent, […]
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate fell below $100 in August and by January 23rd was down to $44.80. By February 9th, the latest daily figure available from the Energy Information Administration (EIA), the price of WTI had recovered to $52.99. Brent […]
The Dodge Momentum Index fell 4.8 percent in January as a result of decreased planning activity in both commercial and institutional construction sectors. The January decline to 121.1 follows a jump of 11.7 percent in final three months of 2014, continuing a hesitant upward trend. On a year over year basis, the Index rose 5.8 […]
General Motors, Ford and Fiat-Chrysler (FCA US) all reported strong fourth quarter earnings driven by sales of trucks, SUVs and crossovers. GM reported net income of $1.1 billion in Q4, with 669,000 vehicles sold. GM executive vice president and CFO Chuck Stevens said in GMs conference call that with “recent fuel prices and strength in […]
According to Baker Hughes data from February 6th, 2015, the U.S rig count for this week is 1,456 rigs exploring for or developing oil or natural gas. This count is a decrease of 87 rigs when compared to last week, with oil rigs down 83 to 1,140 rigs, gas rigs down 5 to 314 rigs, […]
The following article is normally produced just for our Premium level members. We are sharing the information today with all of our readers. The article is written by Peter Wright, consultant to Steel Market Update, Gerdau and the State of Wyoming. Peter, who is a metallurgist as well as market specialist, is also one of […]
January auto sales set monthly records for automotive manufacturers. The Detroit big three made double digit gains for the month as did the top three Japanese manufacturers. Light trucks and SUVs led the stellar sales for the month. Ford’s F-series pickup had the best January sales volume since 2004. A CNBC analyst said, “F-150 has […]
According to Baker Hughes data from January 30th, 2015, the U.S rig count for this week is 1,543 rigs exploring for or developing oil or natural gas. This count is a decrease of 90 rigs when compared to last week, with oil rigs down 94 to 1,223 rigs, gas rigs up 3 to 319 rigs, […]
According to Baker Hughes data from January 23rd, 2015, the U.S rig count for this week is 1,633 rigs exploring for or developing oil or natural gas. This count is a decrease of 43 rigs when compared to last week, with oil rigs down 49 to 1,317 rigs, gas rigs up 6 to 316 rigs, […]
Starts in December rose to an annual rate 1,089,000 from 1,043,000 in November. The three month moving average, (3MMA) rose to 1,075,000, (Figure 1). This was the fourth consecutive month that the 3MMA of starts exceeded a million units. The year / year growth rate of the 3MMA of total starts in December was 4.8 […]
December was another strong month for light vehicle sales at 16.9 million units and following the very strong November result of 17.2 million units (annualized). This was the second best result since August. In 2014 as a whole sales were 16.5 million units, up from 15.6 million in 2013 and the best sales result since […]
The government of Canada has invoked a rarely used rule under the Foreign Extraterritorial Measures Act to bar companies from complying with the requirement that only U.S. steel be used in the rebuilding of the Prince Rupert ferry terminal in British Columbia. Funding for updating of the Prince Rupert Ferry Terminal is coming primarily from […]
Below is the latest data issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through October 2014. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for November 2014 increased 3.9 percent, […]
According to Baker Hughes data from January 16th, 2015, the U.S rig count for this week is 1,676 rigs exploring for or developing oil or natural gas. This count is a decrease of 74 rigs when compared to last week, with oil rigs down 55 to 1,366 rigs, gas rigs down 19 to 310 rigs, […]