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® to close the week at CNY 1,125 ($180.77) per dry metric ton. Chinese rebar fell 2.1 percent over the past week to CNY 3,790 ($608.99) per metric ton. Following a 3.2 percent increase in the week prior, the price of Chinese H-beam steel fell 0.5 percent last week to CNY 3,880 ($623.45) per metric ton. The price of US shredded scrap increased by a slight 0.3 percent over the past week to $375.00 per short ton.
European 1050 aluminum prices ticked up 1.5 percent over the past week to EUR 2,215 ($2,887) per metric ton. Closing at CNY 14,050 ($2,258) per metric ton, Chinese aluminum bar remained unchanged for the week.
The weekly US Rocky Mountain bar fuel surcharge fell 2.1 percent to $0.56 per mile after rising 0.9 percent the week before. The weekly US Gulf Coast bar fuel surcharge saw a 1.2 percent drop this week, closing at $0.58 per mile. Following a 0.7 percent increase in the week prior, the weekly US Midwest bar fuel surcharge fell 0.8 percent last week to $0.57 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.