Construction MMI®: Chinese Rebar Rises 4.3% for Week

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With a 4.3 percent increase over the past week, Chinese rebar was the biggest mover on the weekly Construction MMI®. The Chinese low price of 62% Australian iron ore fines closed last week at CNY 1,175 ($188.19) per dry metric ton after a 3.5 percent rise in its price. In the past week, Chinese H-beam steel saw its price shift up 2.7 percent to CNY 3,780 ($605.42) per metric ton. At $374.00 per short ton, the price of US shredded scrap finished the week down 0.8 percent.

Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,250) per metric ton. At EUR 2,183 ($2,912) per metric ton, the week finished with no movement for European 1050 aluminum.

The weekly US Midwest bar fuel surcharge rose 2.5 percent this week, closing out the third week at $0.57 per mile. The weekly US Rocky Mountain bar fuel surcharge rose 2.5 percent over the past week to $0.56 per mile. This was the third week in a row of increasing prices. The weekly US Gulf Coast bar fuel surcharge rose 1.8 percent this week, closing out the third week at $0.58 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.