A 2.4 percent increase made the weekly US Rocky Mountain bar fuel surcharge the week’s biggest mover on the weekly Construction MMI®, closing at $0.51 per short ton. The weekly US Gulf Coast bar fuel surcharge rose 0.8 percent over the past week to $0.53 per mile. The weekly US Midwest bar fuel surcharge rose 0.5 percent over the past week to $0.53 per mile. This was the third week in a row of increasing prices.
The Chinese low price of 62% Australian iron ore fines rose 1.4 percent to CNY 1,125 ($180.74) per dry metric ton after falling 1.8 percent during the previous week. US shredded scrap prices held steady from the previous week at $390.00 per short ton. Chinese H-beam steel remained essentially flat from the previous week at CNY 3,680 ($591.21) per metric ton. Prices for Chinese rebar remained constant, closing the week at CNY 3,730 ($599.24) per metric ton.
Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,257) per metric ton. At EUR 2,304 ($3,008) per metric ton, the week finished with no movement for European 1050 aluminum.
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.