Construction employment increased in 36 states between August 2013 and August 2014, although at a moderated pace. However, “more states are approaching previous highs and more contractors have been reporting difficulty in hiring qualified workers,” said Ken Simonson, chief economist for the Associated General Contractors of America.
Duke-American Transmission, Dresser-Rand Group, Pathfinder Renewable Wind Energy and Magnum Energy will propose an $8 billion wind-energy project to the Southern California Public Power Authority next year. The project would include a 2,100-megawatt, $4 billion wind farm in Wyoming, a $2.6 billion, 525-mile power line through Colorado and a $1.5 billion storage facility in Utah.
The week’s biggest mover on the weekly Construction MMI® was Chinese H-beam steel, which saw a 5.0 percent decline to CNY 3,070 ($500.01) per metric ton. The price of Chinese rebar rose 2.8 percent to CNY 2,960 ($482.09) per metric ton after falling 10.6 percent during the previous week. The Chinese low price of 62% Australian iron ore fines traded sideways last week, hovering around CNY 970.00 ($157.98) per dry metric ton. Closing at $381.00 per short ton, US shredded scrap remained unchanged for the week.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,200 ($2,313) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,489 ($3,215) per metric ton.
The weekly US Midwest bar fuel surcharge closed last week at $0.50 per mile, after a 1.5 percent drop. The weekly US Rocky Mountain bar fuel surcharge fell 1.0 percent last week, settling at $0.53 per mile. Following a 1.0 percent drop, the weekly US Gulf Coast bar fuel surcharge finished the week at $0.50 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.