The Chinese low price of 62% Australian iron ore fines finished as the week’s biggest mover on the Construction MMI® after dropping 1.8 percent.
The price of Chinese H-beam steel declined 1.2 percent over the past week, while the price of Chinese rebar dropped 0.5 percent this week, closing out the third consecutive week of falling prices. The US shredded scrap price dropped by 0.2 percent, also closing out the third week of declining prices.
Prices for Chinese aluminum bar remained constant, closing the week at above $2,200 per metric ton. At above $3,100 per metric ton, the week finished with no movement for European 1050 aluminum as well.
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.