After drifting 2.7 percent, the weekly US Midwest bar fuel surcharge dropped to $0.54 per short ton making it the biggest mover on the weekly Construction MMI® this week. The weekly US Rocky Mountain bar fuel surcharge closed last week at $0.54 per mile, after a 1.8 percent drop. Following a 1.6 percent drop, the weekly US Gulf Coast bar fuel surcharge finished the week at $0.55 per mile.
Following a 0.3 percent increase in the week prior, the price of Chinese rebar fell 1.4 percent last week to CNY 3,580 ($577.06) per metric ton. The Chinese low price of 62% Australian iron ore fines fell 0.9 percent to CNY 1,060 ($170.86) per dry metric ton after rising 0.9 percent the week before. Prices for US shredded scrap remained constant, closing the week at $403.00 per short ton. Chinese H-beam steel traded sideways last week, hovering around CNY 3,800 ($612.52) per metric ton.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,265) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,215 ($2,839) per metric ton.
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.