The biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 4.9 percent decline. This week marked the third in a row of declining prices for the metal.
Chinese H-beam steel fell 2.1 percent over the past week. The price of Chinese rebar fell 1.1 percent over the past week. This was the third week in a row of declining prices. US shredded scrap saw its price rise 1.0 percent over the past week.
Since last week, the price of the weekly US Midwest bar fuel surcharge fell after moving 1.7 percent. Following a 0.5 percent increase in the week prior, the weekly US Rocky Mountain bar fuel surcharge fell 1.4 percent last week. For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 1.0 percent.
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.