After falling 3 percent, the Chinese H-beam steel price was the 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. The price of Chinese rebar rose 1.4 percent after falling 1.4 percent during the previous week. The price of US shredded scrap rose 0.8 percent after falling 0.5 percent during the previous week.
Chinese aluminum bar prices held steady from the previous week. European 1050 aluminum traded sideways last week as well.
The weekly US Rocky Mountain bar fuel surcharge fell 1.8 percent over the past week. This was the fourth week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell 1.3 percent, and the weekly US Midwest bar fuel surcharge fell 1 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.