The biggest mover on the weekly Construction MMI® was the weekly US Gulf Coast bar fuel surcharge, which saw a 1.7 percent decline. This comes on the heels of a 4.9 percent increase the week before.
Following a 0.8 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.8 percent last week. The weekly US Rocky Mountain bar fuel surcharge fell 0.8 percent as well, after rising 2.1 percent the week before.
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The price of US shredded scrap came out of its hole and rose 0.9 percent after falling 9.8 percent during the previous week. Following a 5.6 percent increase in the week prior, the Chinese low price of 62% Australian iron ore fines fell 0.5 percent last week.
Prices for Chinese H-beam steel remained constant, and Chinese rebar remained unchanged for the week.
The price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum sheet traded sideways last week as well.
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.