A study by ICF International found the Marcellus Shale will generate up to $70 billion in investments in natural gas infrastructure by 2035. According to the report by ICF International, oil and gas midstream investments in the US and Canada will reach about $30 billion per year until 2035. “This report shows a vibrant natural gas market in the future, and it also demonstrates the need for additional midstream infrastructure to support natural gas fulfilling its potential as a foundation fuel for our energy economy,” said Don Santa, president of the Interstate Natural Gas Association of America. The INGAA Foundation commissioned the report.
The week’s biggest mover on the weekly Construction MMI® was the weekly US Midwest bar fuel surcharge, which saw a 0.7 percent decline to $0.55 per short ton. This week marked the third in a row of declining prices for the metal. The weekly US Rocky Mountain bar fuel surcharge closed last week at $0.55 per mile, after a 0.3 percent drop. The weekly US Gulf Coast bar fuel surcharge fell 0.1 percent over the past week to $0.52 per mile. This was the third week in a row of declining prices.
The price of Chinese rebar increased by a slight 0.3 percent over the past week to CNY 3,290 ($530.93) per metric ton. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($156.53) per dry metric ton. At $386.00 per short ton, the price of US shredded scrap did not change since the previous week. Following a steady week, prices for Chinese H-beam steel closed flat at CNY 3,300 ($532.54) per metric ton.
Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,292) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,075 ($2,877) per metric ton.
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.