The biggest mover on MetalMiner’s weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 13.9 percent increase. This comes on the heels of a 3.2 percent decline the week prior.
Chinese rebar prices ticked up 2.4 percent over the past week, while US shredded scrap prices were off slightly, down roughly $10 per short ton a week ago. Chinese H-beam steel finished the week with a 1.5 percent increase.
Holding above $2,200 per metric ton, the week finished with no movement for Chinese aluminum bar. Prices for European 1050 aluminum remained constant, closing the week above $2,800 per metric ton.
The weekly US Rocky Mountain bar fuel surcharge rose 0.5 percent over the past week, the fourth week in a row of increasing prices. The weekly US Midwest bar fuel surcharge rose 0.2 percent after falling 0.2 percent during the previous week. The weekly US Gulf Coast bar fuel surcharge stayed essentially flat.
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.