The week’s biggest mover on the weekly Construction MMI® was the weekly US Rocky Mountain bar fuel surcharge, which saw a 3.8 percent increase. This week marked the third in a row of rising prices for the metal.
The weekly US Midwest bar fuel surcharge shifted up 2.1 percent, while the weekly US Gulf Coast bar fuel surcharge rose 1.7 percent this week.
Closing out the third week of rising prices, the price of US shredded scrap increased by 2.5 percent. The Chinese low price of 62% Australian iron ore fines saw a 1.1 percent drop this week, while the price of Chinese H-beam steel fell 0.9 percent. This was the fourth week in a row of declining H-beam prices in China. Chinese rebar prices held steady from the previous week below $600 per metric ton.
At north of $2,200 per metric ton, the week finished with no movement for Chinese aluminum bar. Closing at above $2,800 per metric ton, European 1050 aluminum remained unchanged for the week.
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.