Construction MMI®: Small 2.8% Drift for European 1050 Aluminum

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Commodities, Metal Prices, Premium

European 1050 aluminum saw a 2.8 percent decline this week, finishing at EUR 2,153 ($2,819) per metric ton and making it the week’s biggest mover on the weekly Construction MMI®. At CNY 14,050 ($2,278) per metric ton, the week finished with no movement for Chinese aluminum bar.

The Chinese low price of 62% Australian iron ore fines fell 0.9 percent for the week to settle at CNY 1,060 ($171.87) per dry metric ton. After a 0.9 percent decline, Chinese rebar closed out the week at CNY 3,490 ($565.87) per metric ton. At $382.00 per short ton, the price of US shredded scrap finished the week down 0.3 percent. Chinese H-beam steel traded sideways last week, hovering around CNY 3,690 ($598.30) per metric ton.

For the third week in a row, the weekly US Midwest bar fuel surcharge dropped, falling 1.7 percent to $0.51 per mile. The weekly US Rocky Mountain bar fuel surcharge dropped 1.4 percent this week, closing out the third consecutive week of falling prices at $0.52 per mile. The weekly US Gulf Coast bar fuel surcharge fell 1.1 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.