Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Sales of new U.S. single-family homes jumped 3.5 percent to a seasonally adjusted annual rate of 592,000 from a revised May total of 572,000, said the Commerce Department on Tuesday. The increase exceeded analyst expectations for a rate of 560,000. Sales for the first half of 2016 were 10.1 percent higher than the same period […]
Home prices continued to rise in May but at a slower pace. The S&P CoreLogic Case-Shiller Home Price Indices for May shows the 20-city Composite posted a year-over-year gain of 5.2 percent in April, down from 5.4 percent in April. “Home prices continue to appreciate across the country,” says David M. Blitzer, Managing Director and […]
The Architecture Billings Index remained positive in June but slipped to 52.6 to 53.1, according to the latest survey by the American institute of Architects. The new projects inquiry index dropped to 58.6 from 60.1 the previous month. Any reading above 50 indicates a growth in design services. “Demand for residential projects has surged this […]
Housing starts rose 4.8 percent in June to a seasonally adjusted annual rate of 1,189,000, exceeding analyst expectations for the month. On a year-over-year basis, starts were 2.0 percent lower than the rate of 1,334,000 in June 2015. May’s estimate was revised downward to 1.14 million unit rate from the previously reported 1.16 million units. […]
Home prices continued to climb in April according to the S&P/Case-Shiller Home Price Indices. Data released for April 2016 20-city composite showed a 0.5 percent month-over-month increase, and a gain of 5.4 percent year-over-year. Year-over-year rates were highest in cities in the West with Portland up 12.3 percent, Seattle up 10.7 percent, and Denver gaining […]
Existing home sales in May grew to their highest pace in over nine years, said the National Association of Realtors in their most recent report. Sales were up 1.8 percent to a seasonally adjusted annual rate of 5.53 million, compared to the downwardly revised April rate of 5.43 million. Existing sales, completed transactions that include […]
Sales of new single family homes were at a seasonally adjusted annual rate of 551,000, according to the latest data from the Department of Commerce. May’s sales were 6.0 percent below the revised April rate of 586,000 from the initial estimate of 619,000. Year over year sales were up 8.7 percent. A poll by Reuters […]
Housing starts in May fell 0.3 percent from April’s revised estimate of 1,167,000 to a seasonally adjusted annual rate of 1,138,000, according to the Department of Commerce. The rate, however, was 9.5 percent above the May 2015 estimate. The month-to-month slip was due to construction of fewer multi-family housing units. “Despite May’s relatively flat report, […]
The following article on the hot rolled coil (HRC), busheling scrap (BUS), and financial futures markets was written by Dave Feldstein. As Flack Steel’s director of risk management, Dave is an active participant in the hot rolled coil (HRC) futures market and we believe he will provide insightful commentary and trading ideas to our readers. […]
Sales of new single-family houses in April surged 16.6 percent from March to a seasonally adjusted annual rate of 619,000, according to estimates released by the Commerce Department. The increase in percentage was the highest since January 1992 and the highest annual rate since 2008. Sales were up 23.8 percent from the April 2015. March […]
Last week the Department Commerce slapped AD/CVD duties totaling over 500 percent on China cold rolled steel flat products. China immediately challenged the determination, calling for removal of the penalties and reaffirming the rebates awarded to its industry to help with solving the steel and coal overcapacity. The Chinese Ministry of Commerce confirmed that it […]
Housing starts in April increased 6.6 percent from the previous month to a seasonally adjusted annual rate of 1,172,000, according to data from the U.S. Department of Housing and Urban Development and the Commerce Department. On a year over year basis housing start were down 1.7 percent. Single-family housing starts in April were at a […]
Economists participating last week in the CMD Webinar: Is Construction Gaining or Waning were generally optimistic about the economy and forecast for construction growth. Although some sectors of construction peaked last year, growth is continuing in almost all areas, although at a slower pace. During the webinar, chief economists Ken Simonson, Associated General Contractors of […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
The Chicago Fed National Activity Index (CFNAI), a gauge of economic activity and inflation, decreased to-0.44 in March from -0.38 in February. The three month moving average for the index also moved downwards to -0.18 from the revised February reading of -0.11 indicates national economic growth was below trend and suggest subdued inflationary pressure in […]
Housing starts plummeted in March, according to Commerce Department data. Housing starts fell 8.8 percent to a seasonally adjusted annual rate of 1,089,000, well below economist projections. Housing permit authorizations also declined in March by 7.7 percent, indicating a cooling of momentum during the housing construction market’s busiest season. Single family housing starts were at […]
We have include an abridged statement from the IMF that was released on Tuesday this week and in which the commodity situation continues to loom large. Our SMU data analysis follows with comments about the future of global and domestic steel demand through 2021. We believe that an understanding of global influences is essential if […]
Written by: John Packard, Publisher of Steel Market Update. Packard has 31 years of steel sales experience in the steel industry in the service center, trading company and steel mill segments of the industry. The Truth About Selling Steel is series of articles dedicated to those interested or involved with the process of selling (with […]
Home prices continued to rise in January, according to the S&P/Case-Shiller Home Price Indices. The 20-City Composite gained 5.4 percent in January, up slightly from a 5.3 percent increase in December. The 10-City Composite year over year over year gain was 5.1 percent. “Home prices continue to climb at more than twice the rate of […]
Sales of new single-family homes grew 2.0 percent from January to February to a seasonally adjusted annual rate of 512,000, according to the U.S. Commerce Department. The gain was due to increases in the West where sales were up 38.5 percent. Median national sales price in February was $301,400 and the average sales price $348,900. […]
Existing home sales took a surprising 7.1 percent plunge in February to an annualized rate of 5.08 million according to data from the National Association of Realtors. Higher prices and tightening supply were blamed for the apparent cooling of the housing market. Supply was at 4.4 months in February, well below the “normal market” of […]
The Chicago Fed National Activity Index dropped lower than expected in February for reading of -0.29 percent from +0.41 percent in January. The reading of -0.29 indicates below average growth for the national economy. The four main components of the headline index, production and income; employment, unemployment, and hours; personal consumption and housing; and sales, […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
Housing starts jumped 5.2 percent in February led by an eight year high in single-family construction. After a slow start in January, the Commerce Department reports housing starts were at a seasonally adjusted annual rate of 1,178,000, up 5.2 percent from January’s revised rate of 1.12 million and 30.9 percent from February 2015. Single-family construction […]
Home sales in Canada increased 0.8 percent in February compared to January, bringing housing transactions to their highest level since 2007. Toronto, Okanagan Region and Fraser Valley led sales, offsetting declines in Edmonton, Greater Moncton and Montreal. The Canadian Real Estate Association reports actual (not seasonally adjusted) activity jumped 18.7 percent year over year. “Two […]
Each month the Commerce Department issues its Construction Put in Place (CPIP) data, usually on the first working day covering activity two months earlier. January data was released on Tuesday March 1st. Construction Put in Place is based on spending work as it occurs, estimated for a given month from a sample of projects. In […]
A 0.4 increase in January purchases pushed existing home sales to their highest annual rate in six months, according to data from the National Association of Realtors. The seasonally adjusted annual rate of 5.47 million in January was 11 percent higher than a year ago. The uptick in sales was accompanied by higher home pricing […]