After falling 5.3 percent, European 1050 aluminum landed at EUR 2,183 ($2,971) per metric ton and making it the week’s biggest mover on the weekly Construction MMI®. Chinese aluminum bar prices held steady from the previous week at CNY 14,050 ($2,255) per metric ton.
The Chinese low price of 62% Australian iron ore fines rose 0.9 percent over the past week to CNY 1,135 ($182.15) per dry metric ton. US shredded scrap fell 0.8 percent over the past week to $387.00 per short ton. At CNY 3,680 ($590.58) per metric ton, the week finished with no movement for Chinese H-beam steel. At CNY 3,730 ($598.60) per metric ton, the price of Chinese rebar did not change since the previous week.
The weekly US Rocky Mountain bar fuel surcharge spiked 4.3 percent last week to $0.53 per mile. The weekly US Gulf Coast bar fuel surcharge increased 4.2 percent over the past week to $0.55 per mile. The weekly US Midwest bar fuel surcharge rose 3.6 percent last week to $0.55 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.