Construction MMI®: Chinese Low Price of 62% Australian Iron Ore Fines Down Third Straight Week

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The week’s 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 to CNY 1,060 ($170.57) per dry metric ton. 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 to CNY 3,800 ($611.48) per metric ton. The price of Chinese rebar fell 1.1 percent over the past week to CNY 3,620 ($582.52) per metric ton. 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 to $403.00 per short ton.

At CNY 14,050 ($2,261) per metric ton, the price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum traded sideways last week, hovering around EUR 2,215 ($2,886) per metric ton.

Since last week, the price of the weekly US Midwest bar fuel surcharge fell to $0.56 per mile 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 to $0.55 per mile. For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 1.0 percent to $0.56 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.