Alcoa has had to suspend production at part of its Saudi smelter. “Alcoa Inc said on Wednesday that the smelter at Ma’aden, Saudi Arabia, which is in its start-up phase, has temporarily stopped production on one of two potlines” reports Reuters.
“The company said the potline was shut down “after a period of pot instability.” It does not expect any impact on customers.”
“The affected potline should be back online between the first and second quarter of 2014, and ramp-up at the unaffected line will speed up.” The rest of the operation remains functioning.
Following a 2.6 percent decline, Chinese H-beam steel finished as the week’s biggest mover on the weekly Construction MMI®. Chinese rebar rose by a slight 0.6 percent. The price of US shredded scrap rose 0.3 percent over the past week. This was the third week in a row of increasing prices. This past week, the Chinese low price of 62% Australian iron ore fines kept quiet.
Chinese aluminum bar traded sideways last week. The week finished with no movement for European 1050 aluminum.
The weekly US Midwest bar fuel surcharge remained unchanged for the week. The weekly US Rocky Mountain bar fuel surcharge stayed essentially flat. The weekly US Gulf Coast bar fuel surcharge remained steady from the previous 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.