This past week, European 1050 aluminum dropped 3.6 percent on the Construction MMI®, landing at EUR $2,327 ($3,055) per metric ton as the biggest mover. Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,233) per metric ton.
Closing out the third week of declining prices, the price of Chinese rebar dropped by 1.4 percent, finishing at CNY 4,360 ($693) per metric ton. Chinese H-beam steel prices were off slightly at CNY 4,100 ($651) per metric ton, down from CNY 4,150 ($657) a week ago. The Chinese price of 62% Australian iron ore fines declined 0.5 percent over the past week, settling at CNY 1,075 ($170) per dry metric ton. The price of US shredded scrap dropped 0.5 percent this week, closing out the third consecutive week of falling prices at $433 per short ton.
The weekly price for the US Rocky Mountain bar fuel surcharge fell 0.9 percent over the past week to $0.57 per short ton. This was the third week in a row of declining prices. The weekly price for the US Midwest bar fuel surcharge dropped 0.6 percent this week, closing out the third consecutive week of falling prices at $0.55 per short ton. The weekly price for the US Gulf Coast bar fuel surcharge dropped by 0.3 percent, finishing at $0.55 per short 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.