The week’s biggest mover on this week’s Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 4.1 percent decline. The weekly US Midwest bar fuel surcharge fell 3.9 percent from the previous week as well. Also, the weekly US Rocky Mountain bar fuel surcharge declined 2.4 percent since last week.
Chinese steel and US scrap prices saw some movement, however.
Chinese H-beam steel fell 1.3 percent over the past week, while the price of US shredded scrap declined 0.5 percent. The price of Chinese rebar rose 0.2 percent, after falling one percent during the previous week. At below $160 per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained essentially flat.
European 1050 aluminum traded sideways last week, hovering under $2,900 per metric ton. Closing above $2,200 per metric ton, Chinese aluminum bar remained unchanged for the 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.