aluminum bar price

The monthly Construction MMI® registered a value of 91 in July, down 2.2 percent from June’s reading of 93.

Every component within the Construction MMI® fell this past month with the exception of two — Chinese aluminum bar and 62% Australian iron ore fines destined for China. MetalMiner has previously written about the price direction for iron ore within the Chinese market.

Source: MetalMiner IndX(SM)

“Nearly all of the components comprising the Construction MMI® fell — some only slightly, however, which tells us that the global construction industry remains somewhat challenged within the current global economic environment,” said Lisa Reisman managing editor of MetalMiner.

Drivers of this Month’s Change in the Construction MMI®

Chinese 62% Australian iron ore fines crept up a few dollars per dry metric ton, as did Chinese aluminum bar prices.

The price of US shredded scrap closed the month down 14 percent. For the second month in a row, the weekly US Midwest bar fuel surcharge declined, falling 9 percent over the past month. The weekly US Gulf Coast bar fuel surcharge fell 10 percent over the past month, the second straight month of declines. The weekly US Rocky Mountain bar fuel surcharge declined 10 percent over the past month.

The price of European 1050 aluminum dropped 4.6 percent. The price of Chinese H-beam steel finished the month 1.1 percent lower. This was the second straight month of declines for Chinese H-beam steel. The price of Chinese rebar fell 0.5 percent.

Chinese aluminum cash prices crept up slightly.

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 over a 30-day period. 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.

Weakening prices changed direction when the cash price of primary Chinese aluminum rose 1.1 percent on June 28, 2012. After falling for two days, the price of Chinese aluminum billet rose one percent. For the fifth consecutive day, the price of Chinese aluminum bar held flat. The price of Chinese aluminum scrap held steady at CNY 16,500 ($2,595) per metric ton.

The cash price of primary Indian aluminum gained 0.7 percent. The aluminum 3-month price saw a 0.1 percent decline on the LME to $1,849 per metric ton. The primary aluminum cash price flattened at $1,810 per metric ton after two days of downward movement on the LME.

Note: The entire monthly MMI numbers will be published on MetalMiner IndX on July 2. MetalMiner will continue to publish the individual MMI reports throughout the week of July 2.

After drifting 4.6 percent, European 5083 plate prices continued to fall making it the biggest mover on the weekly Aluminum MMI®. The price of European 1050 aluminum also fell by a similar percent decline from the previous week. Korean 3003 coil premium over 1050 sheet prices, however, remained unchanged for the week. Korean 5052 coil premium over 1050 sheet prices also held steady from the previous week.

Chinese aluminum prices were mixed for the week. The price of Chinese aluminum billet fell 1.9 percent over the past week. This was the fourth week in a row of declining prices. Since last week, the cash price of Chinese aluminum fell to the lower $2400 per metric ton range after moving 1.8 percent. Prices for Chinese aluminum bar remained constant in the $2200 per metric ton range.

The aluminum 3-month price fell to $1,849 per metric ton on the LME, a 3.7 percent change from the prior week. This week, the primary aluminum cash price finished at $1,810 per metric ton on the LME after falling 3.7 percent. Indian aluminum cash price rose 0.4 percent after falling 3.2 percent during the previous week.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

The LME 3-month price of primary aluminum saw the biggest increase at 0.5 percent, finishing at $2,080 per metric ton for April 26, 2012. The LME primary aluminum cash price rose 0.5 percent to $2,040 per metric ton. The price of Indian primary aluminum has been on the rise for seven days.

Chinese aluminum prices closed mixed yesterday. The SHFE primary aluminum cash price has been on the rise for seven days and is now at CNY 16,080 ($2,550) per metric ton. The price of Chinese aluminum scrap was unchanged in the mid-$2,600s per metric ton. Chinese aluminum billet saw little fluctuation in its price yesterday at above $2,500 per metric ton. The price of Chinese aluminum bar hardly moved, staying at above $2,200 per metric ton.

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This past week, Chinese rebar dropped 0.7 percent on the Construction MMI®, making it the biggest mover within the index. The price of US shredded scrap fell 0.2 percent, after rising 0.2 percent during the week prior. At below $180 per dry metric ton, the price of Chinese 62% Australian iron ore fines did not change since the previous week. Prices for Chinese H-beam steel remained constant, closing the week above $650 per metric ton.

Closing above $2,200 per metric ton, Chinese aluminum bar remained unchanged for the week. European 1050 aluminum traded sideways last week as well, hovering above $3,100 per metric ton.

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.

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With a decline of 1.1 percent to $2,011 per metric ton on April 24, 2012, LME primary aluminum cash prices recorded the biggest shift of the day. Also on the LME, the primary aluminum 3-month price declined 1.1 percent to $2,054 per metric ton. Indian aluminum primary prices inched up 0.8 percent.

Chinese aluminum prices closed mixed yesterday. At CNY 16,050 ($2,545), the Chinese primary aluminum cash price finished the market day on the SHFE up 0.1 percent per metric ton. The price of Chinese aluminum scrap held steady above $2,600 per metric ton. Chinese aluminum billet was unmoved at above $2,500 per metric ton. The price of Chinese aluminum bar remained essentially flat just above $2,200 per metric ton.

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On April 23, 2012, the day’s biggest mover in aluminum markets was the 3-month price of primary aluminum, which saw a one percent increase on the LME to $2,076 per metric ton. After falling for two days, the cash price of primary aluminum rose 0.9 percent on the LME to $2,034 per metric ton. Indian aluminum primary gained 0.1 percent to finish above $2.00 per kilogram.

Chinese aluminum prices closed mixed on Monday. Following three days of little change, the price of Chinese aluminum billet rose by 0.3 percent. The Chinese aluminum scrap price remained even in the mid-$2,600 range per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat above $2,200 per metric ton, while on the SHFE, the cash price of Chinese primary aluminum traded sideways around CNY 16,030 ($2,543) per metric ton.

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