Following a 2.8 percent decline, US shredded scrap finished as the week’s biggest mover on the weekly Construction MMI®.
Chinese H-beam steel prices were off slightly, down just more than $10 per metric ton from a week ago. The Chinese low price of 62% Australian iron ore fines rose 0.9 percent over the past week. This was the third week in a row of increasing prices of iron ore. Following a 0.8 percent increase in the week prior, the price of Chinese rebar fell 0.3 percent last week.
The weekly US Midwest bar fuel surcharge fell 1.3 percent over the past week. This was the third week in a row of declining prices. The weekly US Gulf Coast bar fuel surcharge fell 1.2 percent. This was the third week in a row of declining prices. The weekly US Rocky Mountain bar fuel surcharge fell 0.6 percent, also 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.