The biggest mover on the weekly Construction MMI® was US shredded scrap, which saw a 13.1 percent increase to $381.00 per short ton. The Chinese low price of 62% Australian iron ore fines rose 0.5 percent to CNY 940.00 ($150.76) per dry metric ton after falling 0.5 percent during the previous week. The price of Chinese rebar rose 0.3 percent to CNY 3,990 ($639.94) per metric ton after falling 0.5 percent during the previous week. Following a steady week, prices for Chinese H-beam steel closed flat at CNY 3,650 ($585.40) per metric ton.
Chinese aluminum bar prices held steady from the previous week at CNY 14,050 ($2,253) per metric ton. Closing at EUR 2,215 ($2,835) per metric ton, European 1050 aluminum remained unchanged for the week.
The weekly US Rocky Mountain bar fuel surcharge fell 1.9 percent over the past week to $0.58 per mile. This was the third week in a row of declining prices. At $0.54 per mile, the weekly US Gulf Coast bar fuel surcharge finished the week down 1.9 percent. For the third week in a row, the weekly US Midwest bar fuel surcharge dropped, falling 1.7 percent to $0.53 per mile.
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.