Construction Up, But Labor Shortage Still a Concern

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Florida added the most construction workers between July 2013 and July 2014, and 38 other states also added to their employment rolls. But, there’s a concern.

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“We are at real risk of going from a situation where firms couldn’t hire because there wasn’t enough demand to firms not being able to hire because there aren’t enough qualified workers,” said Stephen Sandherr, Associated General Contractors of America’s CEO. Giles Lamberston suggests hiring more women and “turn the gender problem into a solution.”

The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 0.8 percent increase to $380.00 per short ton. This comes on the heels of a 0.5 percent decline the week prior. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($157.88) per dry metric ton. Following a steady week, prices for Chinese H-beam steel closed flat at CNY 3,230 ($525.72) per metric ton. Chinese rebar remained essentially flat from the previous week at CNY 3,230 ($525.72) per metric ton.

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Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,200 ($2,311) per metric ton. Closing at EUR 2,275 ($3,041) per metric ton, European 1050 aluminum remained unchanged for the week.

Closing out the third week of declining prices, the weekly US Gulf Coast bar fuel surcharge dropped by 0.4 percent, finishing at $0.51 per mile. The weekly US Midwest bar fuel surcharge fell 0.3 percent over the past week to $0.51 per mile. This was the third week in a row of declining prices. The weekly US Rocky Mountain bar fuel surcharge fell 0.2 percent last week, settling 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.

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