The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw an 8.3 percent decline to $333 per short ton. This week marked the third in a row of declining prices for the metal.
Chinese rebar prices fell nearly $40 per ton from a week ago. Chinese H-beam steel closed out the week with a one percent decline. The Chinese low price of 62% Australian iron ore fines fell one percent for the week as well.
Following a steady week, prices for Chinese aluminum bar closed flat above $2,200 per metric ton. Closing above $2,700 per metric ton, European 1050 aluminum remained unchanged for the week.
Last week, the weekly US Gulf Coast bar fuel surcharge shifted slightly, rising by 0.9 percent. The weekly US Midwest bar fuel surcharge rose 0.5 percent over the past week, while the weekly US Rocky Mountain bar fuel surcharge fell 0.3 percent. This was the third week in a row of declining prices for the Rocky Mountain bar fuel surcharge.
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.