After falling 3.0 percent, Chinese H-beam steel landed at CNY 3,540 ($567.21) per metric ton and making it the week’s biggest mover on the weekly Construction MMI®. The Chinese low price of 62% Australian iron ore fines rose 2.7 percent over the past week to CNY 945.00 ($151.42) per dry metric ton. The price of Chinese rebar rose 1.4 percent to CNY 3,610 ($578.42) per metric ton after falling 1.4 percent during the previous week. The price of US shredded scrap rose 0.8 percent to $390.00 per short ton after falling 0.5 percent during the previous week.
Chinese aluminum bar prices held steady from the previous week at CNY 14,050 ($2,251) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,293 ($3,003) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge fell 1.8 percent over the past week to $0.55 per mile. This was the fourth week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell 1.3 percent for the week to settle at $0.55 per mile. The weekly US Midwest bar fuel surcharge fell 1.0 percent last week, settling at $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.