Chinese H-beam steel finished as the week’s biggest mover on the Construction MMI® with a 3.2 percent price decline. The Chinese low price of 62% Australian iron ore fines fell 1.9 percent over the past week. This was the third week in a row of declining prices.
US shredded scrap and Chinese rebar prices also fell.
The price of Chinese rebar finished the week down 1.6 percent. US shredded scrap fell 0.2 percent over the past week.
Prices for Chinese aluminum bar remained constant, closing the week above $2,200 per metric ton. Following a steady week, prices for European 1050 aluminum closed flat above $3,050 per metric ton.
The weekly US Midwest bar fuel surcharge closed out the week with a 2 percent decline. The weekly US Gulf Coast bar fuel surcharge was down slightly, while the weekly US Rocky Mountain bar fuel surcharge declined 0.6 percent over the past week.
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.