The biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 2.8 percent decline. This week marked the third in a row of declining prices for the raw material.
The price of US shredded scrap fell 1.6 percent over the past week. This was the fourth week in a row of declining prices. Chinese H-beam steel traded sideways last week. Chinese rebar remained unchanged for the week.
The price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum remained essentially flat from the previous week.
The weekly US Gulf Coast bar fuel surcharge rose 1.1 percent after falling 1.1 percent during the previous week. The weekly US Midwest bar fuel surcharge fell 0.9 percent over the past week. This was the fourth week in a row of declining prices. The weekly US Rocky Mountain bar fuel surcharge fell 0.2 percent over the past week. This was the fourth 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.