The week’s biggest mover on the weekly Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 2.4 percent increase. This comes on the heels of a 1.1 percent decline the week prior. The weekly US Midwest bar fuel surcharge rose 1.6 percent after falling 1.4 percent during the previous week.
Meanwhile, the weekly US Rocky Mountain bar fuel surcharge fell one percent over the past week. This was the fourth week in a row of declining prices.
The price of US shredded scrap fell 2.4 percent over the past week. Continuing its tumble, the scrap price dropped for the fourth week straight. The Chinese low price of 62% Australian iron ore fines remained essentially flat. At above $600 per metric ton, the price of Chinese H-beam steel did not change since the previous week. Closing at below $650 per metric ton, Chinese rebar remained unchanged for the week.
Chinese aluminum bar prices held steady from the previous week, north of $2,200 per metric ton. Following a steady week, prices for European 1050 aluminum closed 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.