Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Slowing growth in data center planning and nonresidential projects caused the Dodge Momentum Index (DMI) to pull back in October.
Construction spending in the US picked up in September and maintained a notable year-over-year (y/y) rise.
Architecture firms continued to experience soft business conditions through September, according to the latest Architecture Billings Index (ABI) release by the American Institute of Architects (AIA) and Deltek.
The construction sector added 25,000 jobs in September, driven by labor shortages and improved wages, according to data released by the US Bureau of Labor Statistics.
Growth in the US economy continues to crawl with little change in most districts. The Federal Reserve’s October Beige Book report showed three-quarters of reporting districts with flat or declining economic activity.
Insteel Wire Products Co., a subsidiary of Insteel Industries, has acquired Liberty Steel’s Engineered Wire Products (EWP) for $70 million with cash on hand.
Slowing growth in data center planning caused the Dodge Momentum Index (DMI) to pull back in September. The decline followed five months of growth after the index hit a two-year low in March.
CRU Senior Steel Analyst Alexandra Anderson shares insight into the current market for long steel products.
Construction spending in the US declined for a third month in August but showed an increase year over year (y/y). The US Census Bureau estimated construction spending to be $2.131 trillion in August on a seasonally adjusted annual rate (SAAR). While this was 0.1% below July’s revised spending rate, it was 4.1% higher than spending […]
The August Architecture Billings Index (ABI) continued to indicate weak business conditions amongst architecture firms through August, according to the American Institute of Architects (AIA) and Deltek.
Commercial planning momentum continues to drive the Dodge Momentum Index (DMI) higher, pushing August up to a 21-month high.
Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).
The July AIA ABI score has recovered nearly six points over the last two months following the near four-year low recorded in May
The latest figures show a 17% surge over year-ago levels and the best mark since December 2022.
The construction sector added 25,000 jobs in July, driven by improved wage gains according to the Associated General Contractors of America (AGC).
Construction spending in the US in June was slightly lower, declining for the second straight month. Despite the decline it increased notably year on year (y/y).
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.
A roundup of aluminum news from CRU.
Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.
Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.
SMU’s Key Market Indicators include data on the economy, raw materials, manufacturing, construction, and steel sheet and long products. They offer a snapshot of current sentiment and the near-term expected trajectory of the economy. All told, nine key indicators point lower, 16 are neutral, and 13 point higher. One thing worth noting: The nine indicators pointing lower are all lagging indicators. Many of those pointing upward are leading indicators.
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
ArcelorMittal Mexico reached an agreement with the local mining union on Thursday, July 18, to end the 55-day blockade of its steelmaking and mining facilities in Lazaro Cardenas, Michoacán. While a large majority of Section 271 of the Sindicato Nacional de Mineros voted to accept the proposal, a group of unknown size continues to protest illegally and has even turned to violence, according to the company.
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
Operating income from Steel Dynamics Inc.’s (SDI) recycling operations clocked in higher in the second quarter than in the first on increasing volumes and despite lower realized pricing. Recycling operations brought in $32.1 million, an increase over $22.6 million in Q1, but lower than the $40.3 million last year, the Fort Wayne, Ind.-based company said […]