The week’s biggest mover on the Construction MMI® was the price of US shredded scrap, which saw a 9.5 percent decline. This week marked the third in a row of declining prices for the metal.
The price of Chinese rebar fell 0.2 percent after rising 0.2 percent the week before. The Chinese low price of 62% Australian iron ore fines remained essentially flat. Closing at above $600 per metric ton, Chinese H-beam steel remained unchanged for the week.
Chinese aluminum bar prices held steady from the previous week at above $2,200 per metric ton. Prices for European 1050 aluminum remained constant, closing the week at below $2,900 per metric ton.
The weekly US Midwest bar fuel surcharge had a flat week, as did the weekly US US Gulf Coast and Rocky Mountain bar fuel surcharges.
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.