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 and landing at CNY 1,080 ($171) per dry metric ton.
The price of Chinese H-beam steel declined 1.2 percent over the past week, settling at CNY 4,150 ($658) per metric ton. The price of Chinese rebar dropped 0.5 percent this week, closing out the third consecutive week of falling prices at CNY 4,420 ($703) per metric ton. Closing out the third week of declining prices, the price of US shredded scrap dropped by 0.2 percent, finishing at $435 per short ton.
Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,237) per metric ton. At EUR $2,415 ($3,171) per metric ton, the week finished with no movement for European 1050 aluminum.
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.