European 1050 aluminum sheet prices dropped, making it the biggest mover on the weekly construction metals price index after drifting 5.9 percent.
Following a steady week, prices for Chinese aluminum bar closed flat.
Chinese H-beam steel saw its price rise 0.6 percent over the past week. For the third week in a row, the Chinese low price of 62% Australian iron ore fines dropped, falling 0.5 percent. Chinese rebar prices were off slightly, down just a few dollars per metric ton from a week ago. Prices for US shredded scrap remained constant.
This week, the weekly US Gulf Coast bar fuel surcharge fell 4.9 percent. The weekly US Midwest bar fuel surcharge drifted down 2.8 percent since last week. The weekly US Rocky Mountain bar fuel surcharge finished the week following a 2.7 percent drop.
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.