The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.9 percent decline. Last week marked the fourth in a row of declining prices for the metal.
Chinese steel was down, while US shredded scrap and bar fuel surcharges held relatively steady.
The price of Chinese rebar finished the week down one percent, while US shredded scrap remained essentially flat from the previous week, holding between $425 and $450 per short ton. At above $600 per metric ton, the price of Chinese H-beam steel did not change since the previous week.
Prices for Chinese aluminum bar remained constant, closing the week above $2,200 per metric ton. European 1050 aluminum prices held steady from the previous week above $3,000 per metric ton.
The weekly US Midwest bar fuel surcharge had a flat week. The weekly US Rocky Mountain and Gulf Coast bar fuel surcharges also remained essentially flat.
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.