Shanks Group Anticipates Dutch Construction Market To Drive Growth

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Shanks Group Plc, is staying positive. The “British waste management company is betting on a long-awaited recovery in the Dutch construction market to drive growth in 2014 after cutting costs to stay in profit,” reports Reuters.

“Shanks, the No. 1 solid waste company in the Netherlands by revenue, has no plans to reduce its exposure to a Dutch construction market in its sixth consecutive year of decline.”

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“I’d say it’s exactly the opposite,” Peter Dilnot, the company’s chief executive, told Reuters in an interview. “We’ve got a clear strategy to win.”

“Shanks, which recycles bottles for brewer Heineken NV , embarked upon a cost-cutting programme last year with the aim of saving 19 million euros ($26 million) by 2016.”

The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 4.3 percent increase. This week marked the third in a row of rising prices for the metal. The price of Chinese H-beam steel finished the week 0.6 percent higher. The price of Chinese rebar rose 0.3 percent over the past week. This was the third week in a row of increasing prices. The Chinese low price of 62% Australian iron ore fines traded sideways last week.

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

With a 1.2 percent decrease, the weekly US Gulf Coast bar fuel surcharge closed the week. The weekly US Midwest bar fuel surcharge fell 0.9 percent last week. The weekly US Rocky Mountain bar fuel surcharge declined after drifting 0.8 percent since last week.

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.