The biggest mover on the weekly Construction MMI® was US shredded scrap, which saw a 13.1 percent increase.
The Chinese low price of 62% Australian iron ore fines rose 0.5 percent after falling 0.5 percent during the previous week. The price of Chinese rebar rose 0.3 percent after falling 0.5 percent during the previous week. Following a steady week, prices for Chinese H-beam steel closed flat.
Chinese aluminum bar prices held steady from the previous week, and European 1050 aluminum sheet remained unchanged as well.
The weekly US Rocky Mountain bar fuel surcharge fell 1.9 percent over the past week. This was the third week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge finished the week down 1.9 percent. The weekly US Midwest bar fuel surcharge dropped, falling 1.7 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.