The biggest mover this week was the Chinese low price of 62% Australian iron ore fines, with a 2.2 percent fall on the weekly Construction MMI®.
Chinese rebar fell 2.1 percent over the past week. Following a 3.2 percent increase in the week prior, the price of Chinese H-beam steel fell 0.5 percent last week. The price of US shredded scrap increased by a slight 0.3 percent over the past week.
The weekly US Rocky Mountain bar fuel surcharge fell 2.1 percent after rising 0.9 percent the week before. The weekly US Gulf Coast bar fuel surcharge saw a 1.2 percent drop this week. Following a 0.7 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.8 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.