The Construction MMI (Monthly Metals Index) continues to experience pressure from both sides amid conflicting global construction news. For instance, U.S. scrap steel prices recently dropped due to more vehicles being manufactured (car manufacturing always produces ample scrap). However, Chinese steel product prices went up at the same time. Ultimately, metal markets witnessed more movement […]
Tag: Construction MMI
Construction MMI: Canadian Wildfire Smoke Puts a Halt on NYC Construction
The Construction MMI (Monthly Metals Index) stayed within a tight range, but dropped more than in the previous three months. Overall, the index fell by 5.04% month-on-month. Meanwhile, steel prices continued to slide, which brought noticeable bearish pressure to the index. However, within the first couple weeks of June, H-beam steel and steel rebar prices […]
Construction MMI: Architecture Sector Sees Slight Recovery
Since December 2022, the Construction MMI (Monthly Metals Index) has seen multiple factors pull it up and down. Indeed, steel price hikes, high interest rates, government funding for infrastructure and recession fears have all pummeled the index. Ultimately, the index experienced another sideways movement between April 1 and May 1, though it notably traded down […]
Construction MMI: Infrastructure Construction Remains Robust, Private Projects Feeling Recession Pains
The Construction MMI (Monthly Metals Index) narrowly missed trading flat. Overall, the index remained sideways, with just a minuscule drop of 0.13%. In the face of recent construction news, the index proved much less volatile than in the past three months. All three bar fuel surcharges within the index (Weekly Gulf Coast, Weekly Rocky Mountain, […]
Construction MMI: Silicon Valley Bank Collapse Spills into Construction Industry
Month-over-month, the Construction MMI (Monthly MetalMiner Index) broke out of its sideways trend and rose amid both positive and negative construction news. For instance, bar fuel surcharges dropped, but h-beam steel and U.S. shredded scrap steel went up slightly. And while some sources report a rise in global rebar prices, others suggest steel rebar futures […]
Construction MMI: Chinese Sourced Steel Prices Spike, Supply Pinches Possible
The Construction MMI (Monthly MetalMiner Index) rose considerably by 7.68%, with Chinese steel prices getting a significant boost. In fact, all facets of the index related to China (except for iron ore) increased. The movement came in the wake of zero-COVID restrictions lifting, which resulted in a sharp rise in coronavirus cases. While this was […]
Construction MMI: Aluminum Plate and Steel Rebar Reverse
The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Construction MMI: Metal prices bounce back, steel imports fall
The Construction Monthly Metals Index (MMI) picked up by 6.0% for this month’s reading, as rising metal prices push up the cost of doing business in the construction sector. Construction costs rise with metal prices As MetalMiner’s Don Hauser (VP, business solutions) explained during a recent ROTH Capital webinar, steel buyers should keep an eye on […]
Construction MMI: Russian invasion of Ukraine impact on US real estate market minimal
The Construction Monthly Metals Index (MMI) rose by 4.7% for this month’s reading, as metal prices continue to see support from geopolitical turmoil, in addition to ongoing supply fears. Invasion impact on US real estate? Minimal, NAR says We have overviewed the impact of the Russian invasion of Ukraine on everything from oil prices to […]
Construction MMI: Construction spending gains, pace of ABI growth slows
The Construction Monthly Metals Index (MMI) rose by 3.3% for this month’s reading, as construction spending picked up in November. U.S. construction spending reached a seasonally adjusted annual rate of $1,625.9 billion in November, or up 0.4% from October, the Census Bureau reported. Furthermore, the November rate marked a 9.3% year-over-year increase. Meanwhile, through the […]