Closing at CNY 3,950 ($624) per metric ton on the Construction MMI®, Chinese H-beam steel finished as the week’s biggest mover with a 3.2 percent decline. The Chinese low price of 62% Australian iron ore fines fell 1.9 percent over the past week to CNY 1,030 ($162) per dry metric ton. This was the third week in a row of declining prices. At CNY 4,180 ($661) per metric ton, the price of Chinese rebar finished the week down 1.6 percent. US shredded scrap fell 0.2 percent over the past week to $432 per short ton.
Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,222) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,327 ($3,055) per metric ton.
After a two percent decline, weekly US Midwest bar fuel surcharge closed out the week at $0.53 per short ton. Weekly US Gulf Coast bar fuel surcharge prices were off slightly at $0.53 per short ton, down from $0.54 a week ago. The price of weekly US Rocky Mountain bar fuel surcharge declined 0.6 percent over the past week, settling at $0.56 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.