flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index.
Month-over-month, most bar-fuel surcharges remained within a sideways trend. Such has been the case for the past couple of months. The only exception is the Weekly Midwest, which rose considerably . Meanwhile, European commercial 1050 aluminum sheets also increased in price quite a bit. This was mostly due to ongoing energy shortages and the arrival of the colder months. These compounding issues have left European production in a tight spot.
However, with global supply chains disrupted by the pandemic, energy shortages, and the ongoing situation within China, an easy recovery for global supply chains isn’t likely. In fact, they could take years to rebuild. Obviously, this poses a significant problem. Indeed, building materials like steel rebar and aluminum plate have already felt the strain of zero-COVID. Therefore, U.S. construction will likely remain strained in the short term.
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