Construction MMI®: US Shredded Scrap Down 2.8%

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Commodities, Metal Prices, Premium

Following a 2.8 percent decline to $389.00 per short ton, US shredded scrap finished as the week’s biggest mover on the weekly Construction MMI®. Chinese H-beam steel prices were off slightly at CNY 3,690 ($596.35) per metric ton, down from CNY 3,780 ($609.09) a week ago. The Chinese low price of 62% Australian iron ore fines rose 0.9 percent over the past week to CNY 1,080 ($174.54) per dry metric ton. This was the third week in a row of increasing prices. Following a 0.8 percent increase in the week prior, the price of Chinese rebar fell 0.3 percent last week to CNY 3,600 ($581.80) per metric ton.

At CNY 14,050 ($2,271) per metric ton, the week finished with no movement for Chinese aluminum bar. European 1050 aluminum remained essentially flat from the previous week at EUR 2,215 ($2,839) per metric ton.

The weekly US Midwest bar fuel surcharge fell 1.3 percent over the past week to $0.53 per mile. This was the third week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell 1.2 percent over the past week to $0.54 per mile. This was the third week in a row of declining prices. The weekly US Rocky Mountain bar fuel surcharge fell 0.6 percent over the past week to $0.53 per mile. This was the third week in a row of declining prices.

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.