US Construction Puts Upwards Pressure on Steel Pricing
December 11, 2012 - Six years after the complete collapse of the United States housing market, a recovery is finally taking hold. In a healthy economy, the US has approximately 1.2 million new households a year. From 2007-2011, it averaged only 570,000 a year. This year, analysts are expecting the number to recover substantially, and close in on the 1 million mark again. This recovery, combined with the overall US economic recovery, is having a profound effect on steel pricing, and is already causing supply and capacity issues with major mills supporting Western Canada.