The week’s biggest mover on the weekly Construction MMI® was the weekly US Midwest bar fuel surcharge, which saw a 1.0 percent decline to $0.54 per short ton. Last week marked the fourth in a row of declining prices for the metal. Closing out the third week of declining prices, the weekly US Rocky Mountain bar fuel surcharge dropped by 0.8 percent, finishing at $0.54 per mile. For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 0.5 percent to $0.55 per mile.
The Chinese low price of 62% Australian iron ore fines rose 0.9 percent to CNY 1,070 ($172.42) per dry metric ton after falling 0.9 percent during the previous week. The price of Chinese rebar rose 0.8 percent to CNY 3,610 ($581.70) per metric ton after falling 1.4 percent during the previous week. After a 0.7 percent decline, US shredded scrap closed out the week at $400.00 per short ton. Chinese H-beam steel prices were off slightly at CNY 3,780 ($609.09) per metric ton, down from CNY 3,800 ($612.52) a week ago.
Closing at CNY 14,050 ($2,264) per metric ton, Chinese aluminum bar remained unchanged for the week. At EUR 2,215 ($2,839) per metric ton, the week finished with no movement for European 1050 aluminum.
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.