February 2017

U.S. Housing Inventory and Prices

2017-02-28T13:52:05+00:00

Housing inventory level of existing homes fell to 3.6 months’ supply in January, the lowest level since 2005 when it averaged 4.5 months’ supply for the year. New home inventory was 6.4 months’ supply, so the total supply was 4.0 months (January), very low by historic standards. Low supply coupled with low interest rates is [...]

U.S. Housing Inventory and Prices2017-02-28T13:52:05+00:00

US Steel Production and Capacity Utilization

2017-02-28T21:19:32+00:00

Over the first eight weeks of 2017, US steel production averaged 1,730,000 tons per week at an average capacity utilization rate of 72.9%. This is a 71,000 ton per week increase in production and a 2.0% increase in capacity utilization over the same period in 2016. For the week ending February 25th, production reached 1,770,000 [...]

US Steel Production and Capacity Utilization2017-02-28T21:19:32+00:00

U.S. Steel Shipments and Domestic Consumption

2017-02-28T13:52:30+00:00

For the year ending December 2016, US mill shipments of long products fell 0.5% to 1.467 million tons. US domestic composition of long products fell 0.2% over the same time frame. Import share of long products was 22.6% for the year. Table 1 presents data for long product steel shipments from mills defined as domestic [...]

U.S. Steel Shipments and Domestic Consumption2017-02-28T13:52:30+00:00

Employment by Industry

2017-02-27T22:16:51+00:00

The total number of seasonally adjusted non-farm people employed in the US in January 2017 was 145,554,000. This figure was up 2,240,000 (+1.56%) year on year and increased by of 227,000 month on month (0.16%). The economy continues to create strong overall job growth, averaging 187,000 jobs per month. Splitting the jobs into goods producing [...]

Employment by Industry2017-02-27T22:16:51+00:00

China Domestic Steel Prices

2017-02-24T16:10:54+00:00

According to China Metals Weekly, as of February 22nd month on month (m/m) long product prices are up across the board ranging from 10.6% for 6.5mm wire rod to 13.3% for 20mm rebar. For reference 3mm hot rolled coil prices advanced at a far slower rate, up 3.4% m/m. Figure 1 illustrates the pricing history [...]

China Domestic Steel Prices2017-02-24T16:10:54+00:00

Employment Jobless Claims and Labor Participation

2017-02-24T15:55:09+00:00

Continuing unemployment claims fell 3,000 to 2,076,000 for the week ending February 4th, while the four week moving average came in at 2,083,750. Continuing claims have declined in four of the first five weeks of the year after climbing for six of the last eight weeks of 2016. New filings for unemployment insurance benefits moved [...]

Employment Jobless Claims and Labor Participation2017-02-24T15:55:09+00:00

Producer Price Index for Construction

2017-02-24T15:46:29+00:00

After falling for 24 consecutive month’s year on year, the Producer Price Index (PPI) for all commodities moved up 0.9% year on year (y/y), in December and by 2.4% in January. The material and construction components PPI fared much better than all commodities declining for the first six months of 2016 on a y/y basis [...]

Producer Price Index for Construction2017-02-24T15:46:29+00:00

Currency Report

2017-02-22T00:42:26+00:00

The US dollar (USD) continues to advance against a basket of currencies known as the Broad Index. The January 2017 Broad index value was 102.82, up 1.4% from the 101.40 posting of January 2016. Over the past three months the index has surged by 4.9%. The USD bull market will likely continue into 2017 as a [...]

Currency Report2017-02-22T00:42:26+00:00

Non Residential Construction Forecast

2017-02-21T18:18:22+00:00

Twice per year the American Institute of Architects (AIA) gathers construction forecasts from seven well-known forecasting entities. These firms individually predict growth for the 2017 and 2018 non-residential construction market. From this input the AIA then produces a consensus forecast. The firms participating in this activity include: Dodge Data and Analytics, IHS Economics, Moody’s Economy.com, [...]

Non Residential Construction Forecast2017-02-21T18:18:22+00:00

US Service Centers Inventory and Shipments

2017-02-17T22:29:15+00:00

Service Center intake experienced a great increase in the last three months average y/y, with products such as Carbon Plate, seeing growth as high as 30.3%. This y/y growth serves as a good indicator for the industry, specifically with demand and shipment levels. U.S. steel product shipments totaled 3.34 million tons for January 2017, 29.2% higher [...]

US Service Centers Inventory and Shipments2017-02-17T22:29:15+00:00