Rising 6.9 percent to CNY 1,010 ($161.82) per dry metric ton, the Chinese low price of 62% Australian iron ore fines saw the largest increase on the weekly Construction MMI® this week. Chinese rebar gained a slight 0.8 percent this past week, finishing at CNY 3,640 ($583.18) per metric ton. The price of US shredded scrap fell 0.8 percent to $387.00 per short ton after rising 0.8 percent the week before. Chinese H-beam steel prices held steady from the previous week at CNY 3,540 ($567.16) per metric ton.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,251) per metric ton. Prices for European 1050 aluminum remained constant, closing the week at EUR 2,293 ($3,003) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge saw a 2.6 percent drop this week, closing at $0.53 per mile. The weekly US Gulf Coast bar fuel surcharge fell 2.1 percent for the week to settle at $0.54 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.