The biggest mover on the weekly Construction MMI® was the price of Chinese H-beam steel, which saw a 1.4 percent increase. This week marked the third in a row of rising prices for the metal.
Following a 3.8 percent increase in the week prior, the price of Chinese rebar fell 1.1 percent last week. The Chinese low price of 62% Australian iron ore fines fell 0.9 percent after rising 7.5 percent the week before.
US shredded scrap traded sideways last week.
Chinese aluminum bar remained essentially flat. Following a steady week, prices for European 1050 aluminum closed flat as well.
For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 1.4 percent. The weekly US Rocky Mountain bar fuel surcharge dropped 1.1 percent this week, closing out the third consecutive week of falling prices. Following a 0.3 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.5 percent last 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.