Construction MMI®: Us Shredded Scrap Finishes Week on Up 6.4%

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Commodities, Metal Prices, Premium

The week’s biggest mover on the weekly Construction MMI®, US shredded scrap jumped 6.4 percent to close at $399.00 per short ton. Chinese rebar prices fell to CNY 3,660 ($588.17) per metric ton, down from CNY 3,790 ($608.99) a week ago. The Chinese low price of 62% Australian iron ore fines closed last week at CNY 1,115 ($179.18) per dry metric ton, after a 0.9 percent drop. Closing at CNY 3,880 ($623.52) per metric ton, Chinese H-beam steel remained unchanged for the week.

Following a steady week, prices for Chinese aluminum bar closed flat at CNY 14,050 ($2,258) per metric ton. European 1050 aluminum traded sideways last week, hovering around EUR 2,215 ($2,875) per metric ton.

With a 1.5 percent decrease, the weekly US Gulf Coast bar fuel surcharge closed the week at $0.57 per mile. Since last week, the price of the weekly US Midwest bar fuel surcharge fell to $0.57 per mile after moving 1.0 percent. The weekly US Rocky Mountain bar fuel surcharge rose 0.5 percent to $0.56 per mile after falling 2.1 percent during the previous 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.