Steel Markets
February 3, 2015
Construction Expenditures Through December 2014
Written by Peter Wright
The following article is normally produced just for our Premium level members. We are sharing the information today with all of our readers. The article is written by Peter Wright, consultant to Steel Market Update, Gerdau and the State of Wyoming. Peter, who is a metallurgist as well as market specialist, is also one of our Steel 101 instructors. Our next program will be in the Chicago area on May 19 & 20th and will include a tour of the NLMK Indiana steel mill.
Each month the Commerce Department issues its construction put in place (CPIP) data, usually on the first working day covering activity two months earlier. December data was released on February 2nd. Construction put in place is based on spending work as it occurs, estimated for a given month from a sample of projects. In effect the value of a project is spread out from the project’s start to its completion.
