With a 3.2 percent increase over the past week, Chinese H-beam steel was the biggest mover on the weekly 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 to CNY 1,150 ($184.47) per dry metric ton. The price of Chinese rebar fell 0.5 percent to CNY 3,870 ($620.78) per metric ton after rising 4.3 percent the week before. US shredded scrap prices held steady from the previous week at $374.00 per short ton.
At CNY 14,050 ($2,254) per metric ton, the week finished with no movement for Chinese aluminum bar. European 1050 aluminum traded sideways last week, hovering around EUR 2,183 ($2,924) per metric ton.
The weekly US Rocky Mountain bar fuel surcharge rose 0.9 percent this week, closing out the third week at $0.57 per mile. The weekly US Midwest bar fuel surcharge rose 0.7 percent over the past week to $0.58 per mile. This was the third week in a row of increasing prices. Following a 1.8 percent increase in the week prior, the weekly US Gulf Coast bar fuel surcharge fell 0.4 percent last week to $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.