After falling 5.3 percent, European 1050 aluminum landed below $3,000 per metric ton, making it the biggest mover on the weekly Construction MMI®.
Meanwhile, Chinese aluminum bar prices held steady from the previous week.
The Chinese low price of 62% Australian iron ore fines rose 0.9 percent over the past week. US shredded scrap fell 0.8 percent. The week finished with no movement for Chinese H-beam steel. The price of Chinese rebar also did not change since the previous week.
However, the weekly US Rocky Mountain bar fuel surcharge spiked 4.3 percent last week. The weekly US Gulf Coast bar fuel surcharge increased 4.2 percent, and the weekly US Midwest bar fuel surcharge rose 3.6 percent.
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.