Prices for European 1050 aluminum saw the biggest increase on the weekly Construction MMI® this week, rising 3.5 percent. Chinese aluminum bar remained unchanged for the week.
Closing out the third week of declining prices, the price of Chinese rebar dropped by 1.4 percent. The price of US shredded scrap declined 0.5 percent over the past week. The Chinese low price of 62% Australian iron ore fines stayed essentially flat, as did the price of Chinese H-beam steel.
The weekly US Rocky Mountain bar fuel surcharge closed last week after a 2.4 percent drop. Following a 4.2 percent increase in the week prior, the weekly US Gulf Coast bar fuel surcharge fell 0.3 percent last week. The weekly US Midwest bar fuel surcharge remained 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.