Construction MMI®: The Chinese Low Price of 62% Australian Iron Ore Fines Up Third Straight Week

The week’s biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 7.5 percent increase to CNY 1,140 ($182.96) per dry metric ton. This week marked the third in a row of rising prices for the metal. The price of Chinese rebar rose 3.8 percent over the past week to CNY 3,800 ($609.88) per metric ton. This was the fourth week in a row of increasing prices. Chinese H-beam steel gained a slight 0.8 percent this past week, finishing at CNY 3,630 ($582.59) per metric ton. The price of US shredded scrap fell 0.5 percent to $389.00 per short ton after rising 1.0 percent the week before.

Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,255) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,304 ($3,024) per metric ton.

For the third week in a row, the weekly US Rocky Mountain bar fuel surcharge dropped, falling 2.3 percent to $0.50 per mile. The weekly US Gulf Coast bar fuel surcharge fell 0.6 percent over the past week to $0.53 per mile. This was the third week in a row of declining prices. The weekly US Midwest bar fuel surcharge rose 0.3 percent to $0.53 per mile after falling 0.6 percent during the previous 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.

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