The biggest mover on the weekly Construction MMI® was the weekly US Rocky Mountain bar fuel surcharge, which saw a 4.6 percent increase. This week marked the third in a row of rising prices for the metal.
Closing out the third week of rising prices, the weekly US Gulf Coast bar fuel surcharge increased by 3.7 percent. The weekly US Midwest bar fuel surcharge rose 2.1 percent over the past week. This was the third week in a row of increasing prices.
US shredded scrap prices were off slightly, down $10 per short ton from a week ago. The Chinese low price of 62% Australian iron ore fines remained unchanged for the week. The week finished with no movement for Chinese H-beam steel. Prices for Chinese rebar remained constant.
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.