The monthly Construction MMI® registered a value of 92 in October, an increase of 4.5 percent from 88 in September.
After dropping the previous month, the Chinese low price of 62% Australian iron ore fines prices rose 13 percent to CNY 900.00 ($143.18) per dry metric ton. The price of Chinese rebar rose 8 percent to CNY 3,880 ($617.26) per metric ton after falling the previous month. After dropping the previous month, the price of Chinese H-beam steel prices rose 5.5 percent to CNY 3,550 ($564.76) per metric ton.
The price of European 1050 aluminum rose 6.3 percent over the past month to EUR 2,354 ($3,015.54) per metric ton after holding steady the previous month.
At $376.00 per short ton, US shredded scrap was down 6.7 percent for the month.
The weekly US Gulf Coast bar fuel surcharge grew 0.6 percent to finish at $0.56 per mile. At $0.56 per mile, the weekly US Midwest bar fuel surcharge was down 1.3 percent.
At a price of CNY 14,050 ($2,235) per metric ton, Chinese aluminum bar rose 1.1 percent for the month.
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 over a 30-day period. 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.