The Architecture Billings Index, an indicator of US non-residential building activity tracked by the American Institute of Architects, rose in September due to an increase in demand for institutional projects.
The index rose to 55.2 last month from 53.0 in August, the AIA said today. The index, based on a survey of US architects and reflects a roughly 9 to 12 months lag between architecture billings and construction spending. Speaking of which, Consulting firm Rider Levett Bucknall recently released a report that said actual US construction spending is now at its highest since pre-recession 2008.
The week’s biggest mover on the weekly Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 2.0% decline to $0.48 per short ton. This week marked the third in a row of declining prices for the metal. Closing out the third week of declining prices, the weekly US Midwest bar fuel surcharge dropped by 1.2%, finishing at $0.48 per mile. The weekly US Rocky Mountain bar fuel surcharge fell 0.5% over the past week to $0.51 per mile. This was the third week in a row of declining prices.
US shredded scrap prices were off slightly at $361.00 per short ton, down from $364.00 a week ago. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet, holding at at CNY 970.00 ($157.94) per dry metric ton. Prices for Chinese H-beam steel remained constant, closing the week at CNY 3,070 ($499.86) per metric ton. At CNY 2,960 ($481.95) per metric ton, the week finished with no movement for Chinese rebar.
At CNY 14,200 ($2,312) per metric ton, the price of Chinese aluminum bar did not change since the previous week. Closing at EUR 2,365 ($2,991) per metric ton, European 1050 aluminum remained unchanged for the week.
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.