Construction MMI®: US Shredded Scrap Down, Fuel Surcharges Up

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The week’s biggest mover on the weekly Construction MMI® was the weekly US Rocky Mountain bar fuel surcharge, which saw a 4.6 percent increase to $0.55 per short ton. 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, landing at $0.57 per mile. The weekly US Midwest bar fuel surcharge rose 2.1 percent over the past week to $0.56 per mile. This was the third week in a row of increasing prices.

US shredded scrap prices were off slightly at $377.00 per short ton, down from $387.00 a week ago. Closing at CNY 1,135 ($182.08) per dry metric ton, the Chinese low price of 62% Australian iron ore fines remained unchanged for the week. At CNY 3,680 ($590.35) per metric ton, the week finished with no movement for Chinese H-beam steel. Prices for Chinese rebar remained constant, closing the week at CNY 3,730 ($598.37) per metric ton.

Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,254) per metric ton. Following a steady week, prices for European 1050 aluminum closed flat at EUR 2,183 ($2,971) per metric ton.

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.