US Shredded Scrap Ends Week 2.2% Down; Influential Construction Projects

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Reed Construction recently reported the top twenty major upcoming Midwest and West construction projects. As they point out, “total construction activity is comprised of many small- and medium-sized projects and a limited number of large developments. But the largest projects, simply by their nature, can dramatically affect total dollar volumes. In other words, the timing and size of these projects have an exaggerated influence on market forecasts.”

The week’s biggest mover on the weekly Construction MMI® was US shredded scrap, which saw a 2.2 percent decline. Chinese rebar prices were off slightly, down from a week ago. The Chinese low price of 62% Australian iron ore fines remained steady from the previous week. Chinese H-beam steel traded sideways last week.

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The price of Chinese aluminum bar did not change since the previous week. Prices for European 1050 aluminum remained constant.

The weekly US Midwest bar fuel surcharge fell 0.3 percent for the week. The weekly US Rocky Mountain bar fuel surcharge rose 0.3 percent after falling 0.1 percent during the previous week. The weekly US Gulf Coast bar fuel surcharge fell 0.3 percent last week.

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The Construction MMI® collects and weights 9 metal price points used within the construction industry to provide a unique view into construction industry price trends. For more information on the Construction MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.