With a 3.2 percent increase over the past week, Chinese H-beam steel was the biggest mover on the Construction MMI®.
Following a 3.5 percent increase in the week prior, the Chinese low price of 62% Australian iron ore fines fell 2.1 percent last week. The price of Chinese rebar fell 0.5 percent after rising 4.3 percent the week before. US shredded scrap prices held steady from the previous week.
The week finished with no movement for Chinese aluminum bar. European 1050 aluminum traded sideways last week too.
The weekly US Rocky Mountain bar fuel surcharge rose 0.9 percent this week, closing out the third week of increases. The weekly US Midwest bar fuel surcharge rose 0.7 percent – also the third week in a row of increasing prices. Meanwhile, following a 1.8 percent increase in the week prior, the weekly US Gulf Coast bar fuel surcharge fell 0.4 percent last week.
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.