Nonresidential building gains may boost steel

Jun 06, 2014 | 06:31 PM | Frank Haflich

Tags  steel, nonresidential construction, McGraw Hill Momentum Index, Roger Ferch, AISC, Charles Bradford, Frank Haflich

LOS ANGELES — A positive outlook for nonresidential construction has added to growing optimism that 2014 will be the best year for steel demand in this sector since it entered a slump six years ago.

The Dodge Momentum Index, which measures initial reports of nonresidential building projects in planning, rose 2 percent in May vs. April, spurred by a 4.5-percent increase in commercial building, while institutional construction fell 1.3 percent, according to the McGraw Hill Construction division of New York-based McGraw Hill Financial. The index climbed 17.6 percent vs. May 2013.....

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