The week’s biggest mover on the weekly Construction MMI® was the price of US shredded scrap, which saw a 9.8 percent decline. Last week marked the fourth in a row of declining prices for the metal.
The Chinese low price of 62% Australian iron ore fines closed last week after a 5.6 percent rise in its price. Following a 3.4 percent increase in the week prior, the price of Chinese rebar fell 0.2 percent last week. The price of Chinese H-beam steel did not change since the previous week.
Chinese aluminum bar remained essentially flat from the previous week. European 1050 aluminum prices held steady as well.
The weekly US Gulf Coast bar fuel surcharge spiked 4.9 percent last week. The weekly US Rocky Mountain bar fuel surcharge ticked up 2.1 percent over the past week. The weekly US Midwest bar fuel surcharge shifted up 0.8 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.