The week’s biggest mover on the Construction MMI® was the price of weekly US Gulf Coast bar fuel surcharge, which saw a 2.4 percent decline to $0.54 per short ton. Last week marked the fourth in a row of declining prices for the metal. Closing out the third week of declining prices, the price of weekly US Midwest bar fuel surcharge dropped by 1.7 percent, finishing at $0.54 per short ton. The price of weekly US Rocky Mountain bar fuel surcharge fell 1.5 percent over the past week to $0.56 per short ton. This was the third week in a row of declining prices.
The Chinese low price of 62% Australian iron ore fines dropped 2.3 percent this week, closing out the third consecutive week of falling prices at CNY 1,050 ($166) per dry metric ton. The price of Chinese rebar fell 2.3 percent over the past week to CNY 4,250 ($672) per metric ton. This was the third week in a row of declining prices. At $433 per short ton, the week finished with no movement for US shredded scrap. At CNY 4,080 ($646) per metric ton, the price of Chinese H-beam steel did not change since the previous week.
Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,222) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,327 ($3,055) 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.