The week’s biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.8 percent decline to CNY 1,110 ($178.41) per dry metric ton. Chinese rebar prices were off slightly at CNY 3,730 ($599.51) per metric ton, down from CNY 3,760 ($604.18) a week ago. Closing at $390.00 per short ton for the week, US shredded scrap rose by a slight 0.3 percent. Following a steady week, prices for Chinese H-beam steel closed flat at CNY 3,680 ($591.48) per metric ton.
Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,258) per metric ton. European 1050 aluminum remained essentially flat from the previous week at EUR 2,304 ($3,008) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge rose 0.7 percent to $0.49 per mile after falling 1.1 percent during the previous week. The weekly US Gulf Coast bar fuel surcharge rose 0.4 percent to $0.53 per mile after falling 1.4 percent during the previous week. The weekly US Midwest bar fuel surcharge rose 0.3 percent to $0.52 per mile after falling 0.5 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.