The week’s biggest mover on the weekly Construction MMI®, US shredded scrap jumped 6.4 percent.
Chinese rebar prices fell about $20 per metric ton from a week ago. The Chinese low price of 62% Australian iron ore fines closed last week after a 0.9 percent drop. Chinese H-beam steel remained unchanged for the week.
With a 1.5 percent decrease, the weekly US Gulf Coast bar fuel surcharge closed the week down. Since last week, the price of the weekly US Midwest bar fuel surcharge fell 1.0 percent. The weekly US Rocky Mountain bar fuel surcharge rose 0.5 percent 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.