The Columbia Pipeline Group said it is investing $1.75 billion in natural gas pipelines that would connect the Marcellus and Utica Shale plays to regions served by the systems of its Columbia Gas Transmission and Columbia Gulf Transmission systems.
The investment will back Columbia Gulf’s capacity upgrade of a gas pipeline linking the Appalachian Basin to the Gulf Coast and Columbia Gas’ plan to construct a pipeline with a capacity of 1.5 billion cubic feet of gas per day in Ohio and West Virginia. The projects are expected to go online in the second half of 2017.
The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 0.5 percent decline to $377.00 per short ton. This comes on the heels of a 1.3 percent increase the week before. Closing at CNY 3,230 ($524.92) per metric ton for the week, Chinese rebar rose by a slight 0.3 percent. The Chinese low price of 62% Australian iron ore fines closed at CNY 970.00 ($157.64) per dry metric ton after a flat week. Prices for Chinese H-beam steel remained constant, closing the week at CNY 3,230 ($524.92) per metric ton.
Chinese aluminum bar prices held steady from the previous week at CNY 14,200 ($2,308) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,275 ($3,050) per metric ton.
The weekly US Midwest bar fuel surcharge fell 0.4 percent over the past week to $0.52 per mile. This was the third week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell 0.2 percent over the past week to $0.51 per mile. This was the third week in a row of declining prices. This past week, the weekly US Rocky Mountain bar fuel surcharge kept quiet, holding at at $0.53 per mile.
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.