The weekly US Rocky Mountain bar fuel surcharge dropped to $0.51 per short ton, making it the biggest mover on the weekly Construction MMI® this week, after drifting 4.5 percent. The weekly US Gulf Coast bar fuel surcharge closed last week at $0.54 per mile, after a 1.2 percent drop. With a 0.6 percent decrease, the weekly US Midwest bar fuel surcharge closed the week at $0.52 per mile.
The Chinese low price of 62% Australian iron ore fines rose 2.9 percent over the past week to CNY 1,060 ($170.10) per dry metric ton. Chinese H-beam steel gained a slight 1.7 percent this past week, finishing at CNY 3,600 ($577.70) per metric ton. In the past week, US shredded scrap saw its price shift up 1.0 percent to $391.00 per short ton. The price of Chinese rebar rose 0.8 percent to CNY 3,660 ($587.33) per metric ton after falling 0.3 percent during the previous week.
European 1050 aluminum saw its price rise 0.5 percent over the past week to EUR 2,304 ($3,041) per metric ton. Closing at CNY 14,050 ($2,255) per metric ton, Chinese aluminum bar remained unchanged for the week.
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.