This past week, Chinese rebar dropped 0.7 percent on the Construction MMI®, landing at CNY 4,440 ($704) per metric ton as the biggest mover within the index. The price of US shredded scrap fell 0.2 percent to $436 per short ton after rising 0.2 percent during the week prior. At CNY 1,100 ($174) 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 at CNY 4,200 ($666) per metric ton.
Closing at CNY 14,050 ($2,228) per metric ton, Chinese aluminum bar remained unchanged for the week. European 1050 aluminum traded sideways last week as well, hovering around EUR $2,415 ($3,171) 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.