Construction MMI®: Chinese Low Price of 62% Australian Iron Ore Fines Down for Third Straight Week

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Commodities, Metal Prices, Premium

The week’s 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 to CNY 1,030 ($167.00) per dry metric ton. This week marked the third in a row of declining prices for the metal. The price of US shredded scrap fell 1.6 percent over the past week to $376.00 per short ton. This was the fourth week in a row of declining prices. Chinese H-beam steel traded sideways last week, hovering around CNY 3,690 ($598.28) per metric ton. Closing at CNY 3,490 ($565.85) per metric ton, Chinese rebar remained unchanged for the week.

At CNY 14,050 ($2,278) per metric ton, the price of Chinese aluminum bar did not change since the previous week. European 1050 aluminum remained essentially flat from the previous week at EUR 2,153 ($2,815) per metric ton.

The weekly US Gulf Coast bar fuel surcharge rose 1.1 percent to $0.53 per mile after falling 1.1 percent during the previous week. The weekly US Midwest bar fuel surcharge fell 0.9 percent over the past week to $0.51 per mile. 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 to $0.52 per mile. 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.