Construction activity is picking up across the US as winter finally releases its grip on the Midwest and Eastern Seaboard. Infrastructure projects continue to take center stage with a $2.3 billion pipeline project approved and starting near Dallas and a judge approving a $1.6 billion sewer project in Miami-Dade County, Florida. More than $164 billion worth of transmission lines are also on tap for the rest of 2014.
The week’s biggest mover on the weekly Construction MMI® was the price of Chinese rebar, which saw a 3.0 percent increase to CNY 3,470 ($557.92) per metric ton. Last week marked the fourth in a row of rising prices for the metal. US shredded scrap saw its price rise 0.5 percent over the past week to $396.00 per short ton. The Chinese low price of 62% Australian iron ore fines stayed essentially flat at CNY 970.00 ($155.96) per dry metric ton. Chinese H-beam steel remained essentially flat from the previous week at CNY 3,300 ($530.59) per metric ton.
Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,200 ($2,283) per metric ton. At EUR 2,052 ($2,825) per metric ton, the week finished with no movement for European 1050 aluminum.
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.