The biggest mover this week was Chinese rebar with a 2.2 percent fall on the weekly Construction MMI®.
The price of US shredded scrap declined 1.5 percent over the past week. The Chinese low price of 62% Australian iron ore fines fell 0.9 percent after rising 0.9 percent the week before. The price of Chinese H-beam steel did not change since the previous week.
The weekly US Gulf Coast bar fuel surcharge dropped 2.0 percent this week, closing out the third consecutive week of falling prices. The weekly US Midwest bar fuel surcharge fell 1.9 percent over the past week. This was the third week in a row of declining prices. The weekly US Rocky Mountain bar fuel surcharge finished the week down 1.3 percent.
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.