More than a month of falling prices continued when the week’s biggest mover closed with a US Midwest bar fuel surcharge decline of 2.2 percent. The weekly US Rocky Mountain bar fuel surcharge fell two percent over the past week. This was the third week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell two percent over the past week. This was the third week in a row of declining prices.
The Chinese low price of 62% Australian iron ore fines fell 1.4 percent after rising 5.4 percent the week before. Following a 0.2 percent increase in the week prior, the price of Chinese rebar fell 0.2 percent last week. US shredded scrap traded sideways last week. At over $600 per metric ton, the price of Chinese H-beam steel did not change since the previous week.
Chinese aluminum bar remained essentially flat from the previous week. Prices for European 1050 aluminum remained constant as well.
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