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

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.

The 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.