The week’s biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 5.5 percent decline. This week marked the third in a row of declining prices for the raw material.
Chinese rebar fell 1.1 percent over the past week. Closing above $400 per short ton, US shredded scrap remained unchanged for the week. Chinese H-beam steel prices held steady from the previous week as well.
At above $2,200 per metric ton, the week finished with no movement for Chinese aluminum bar. European 1050 aluminum remained essentially flat from the previous week too.
Finishing the fourth week of rising prices, the weekly US Rocky Mountain bar fuel surcharge increased by 2.3 percent. The weekly US Midwest bar fuel surcharge rose 1.6 percent over the past week, the fourth week in a row of increasing prices.
The weekly US Gulf Coast bar fuel surcharge increased 0.8 percent this week, also closing out the fourth consecutive week of rising prices.
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.