US shredded scrap improved by 4.2 percent on MetalMiner’s weekly Construction MMI®.
For the third week in a row, the price of Chinese H-beam steel dropped, falling 2.8 percent. Following a 0.5 percent increase in the week prior, the price of Chinese rebar fell 1.6 percent last week. The Chinese low price of 62% Australian iron ore fines fell 0.5 percent over the past week. This was the third week in a row of declining iron ore prices.
Prices for Chinese aluminum bar remained constant, closing the week above $2,200 per metric ton. European 1050 aluminum traded sideways last week, hovering under $2,800 per metric ton.
The weekly US Rocky Mountain bar fuel surcharge spiked 3.3 percent last week. The weekly US Gulf Coast bar fuel surcharge rose 2.7 percent, while the weekly US Midwest bar fuel surcharge rose 2.3 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.