This past week, European 1050 aluminum dropped 3.6 percent on the Construction MMI®, the biggest mover on the index. Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton.
Closing out the third week of declining prices, the price of Chinese rebar dropped by 1.4 percent. Chinese H-beam steel prices were off slightly from a week ago. The Chinese price of 62% Australian iron ore fines declined 0.5 percent over the past week. The price of US shredded scrap dropped 0.5 percent this week, closing out the third consecutive week of falling prices.
The weekly price for the US Rocky Mountain bar fuel surcharge fell 0.9 percent over the past week. 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, also closing out the third consecutive week of falling prices. The US Gulf Coast bar fuel surcharge dropped by 0.3 percent.
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.