The biggest mover on the weekly Construction MMI® was the weekly US Midwest bar fuel surcharge, which saw a 1.0 percent decline. 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. For the third week in a row, the weekly US Gulf Coast bar fuel surcharge dropped, falling 0.5 percent.
The Chinese low price of 62% Australian iron ore fines rose 0.9 percent after falling 0.9 percent during the previous week. The price of Chinese rebar rose 0.8 percent after falling 1.4 percent during the previous week. After a 0.7 percent decline, US shredded scrap closed out the week down. Chinese H-beam steel prices were off slightly, down a few dollars per metric ton from a week ago.
Chinese aluminum bar remained unchanged for the week. 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.