The week’s biggest mover on the weekly Construction MMI® was the price of Chinese H-beam steel, which saw a 1.4 percent increase to CNY 3,680 ($591.33) per metric ton. 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 to CNY 3,760 ($604.18) per metric ton. The Chinese low price of 62% Australian iron ore fines fell 0.9 percent to CNY 1,130 ($181.58) per dry metric ton after rising 7.5 percent the week before. US shredded scrap traded sideways last week, hovering around $389.00 per short ton.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,258) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,304 ($3,008) per metric ton.
For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 1.4 percent to $0.52 per mile. The weekly US Rocky Mountain bar fuel surcharge dropped 1.1 percent this week, closing out the third consecutive week of falling prices at $0.49 per mile. Following a 0.3 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.5 percent last week to $0.52 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.