Construction Steady this Week; LNG Investments Projected to Hit $70 billion

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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.

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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.

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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.

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