Iron Ore Price, US Scrap Price Biggest Movers on Construction Index

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The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 2.1 percent decline. This comes on the heels of a 0.5 percent increase the week before.

The price of US shredded scrap finished the week 2.1 percent higher. Following a 0.3 percent increase in the week prior, the price of Chinese rebar fell 1.8 percent last week. The week finished with no movement for Chinese H-beam steel.

Chinese aluminum bar remained essentially flat from the previous week. European 1050 aluminum traded sideways as well.

today's metal prices - MetalMiner IndXThe weekly US Rocky Mountain bar fuel surcharge dropped 1.6 percent this week, closing out the third consecutive week of falling prices. For the third week in a row, the weekly US Midwest bar fuel surcharge dropped, falling 0.4 percent. The weekly US Gulf Coast bar fuel surcharge stayed essentially flat.

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.

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