The weekly US Rocky Mountain bar fuel surcharge dropped, making it the biggest mover on the weekly Construction MMI® after drifting 4.5 percent.
The weekly US Gulf Coast bar fuel surcharge closed last week after a 1.2 percent drop. With a 0.6 percent decrease, the weekly US Midwest bar fuel surcharge closed the week down as well on our weekly metal pricing service.
The Chinese low price of 62% Australian iron ore fines rose 2.9 percent over the past week. Chinese H-beam steel gained a slight 1.7 percent. In the past week, US shredded scrap saw its price shift up 1 percent. The price of Chinese rebar rose 0.8 percent after falling 0.3 percent during the previous week.
European 1050 aluminum saw its price rise 0.5 percent over the past week. Chinese aluminum bar prices 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.