The week’s biggest mover on the weekly Construction MMI® was the price of Chinese H-beam steel, which saw a 4.8 percent decline. This week marked the third in a row of declining prices for the metal.
The Chinese low price of 62% Australian iron ore fines fell 4 percent over the past week. This was the fourth week in a row of declining iron ore prices. The price of US shredded scrap, meanwhile, increased by a slight 0.6 percent over the past week.
The price of Chinese rebar rose 0.5 percent after falling 4.3 percent during the previous week. European 1050 aluminum saw its price rise 2.2 percent over the past week. Chinese aluminum bar traded sideways last week, hovering above $2,200 per metric ton.
The weekly US Gulf Coast bar fuel surcharge finished the week 1.3 percent higher. The weekly US Rocky Mountain bar fuel surcharge rose 1.1 percent over the past week. Following a 3.9 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.6 percent.
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.