Chinese H-beam steel’s 1.9 percent decline made it this week’s biggest mover on the weekly Construction MMI®, closing at CNY 3,620 ($588.98) per metric ton. The Chinese low price of 62% Australian iron ore fines rose 1.0 percent to CNY 1,040 ($169.21) per dry metric ton after falling 2.8 percent during the previous week. The price of US shredded scrap fell 0.3 percent over the past week to $375.00 per short ton. This was the fourth week in a row of declining prices. At CNY 3,490 ($567.83) per metric ton, the week finished with no movement for Chinese rebar.
Chinese aluminum bar remained essentially flat from the previous week at CNY 14,050 ($2,286) per metric ton. At EUR 2,153 ($2,806) per metric ton, the price of European 1050 aluminum did not change since the previous week.
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.