Construction MMI®: Chinese Low Price of 62% Australian Iron Ore Fines Falls 3.4% for the 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 3.4 percent decline to CNY 1,005 ($163.66) per dry metric ton. This comes on the heels of a 1.0 percent increase the week before. At $363.00 per short ton, the price of US shredded scrap finished the week down 3.2 percent. Chinese H-beam steel saw a 1.1 percent decline over the past week to CNY 3,580 ($582.97) per metric ton. Chinese rebar fell 0.3 percent over the past week to CNY 3,480 ($566.69) per metric ton.

Chinese aluminum bar traded sideways last week, hovering around CNY 14,050 ($2,288) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,153 ($2,806) per metric ton.

The weekly US Gulf Coast bar fuel surcharge settled at $0.54 per mile this week after shifting up 2.5 percent. Last week, the weekly US Rocky Mountain bar fuel surcharge shifted slightly, rising by 1.7 percent to close at $0.53 per mile. A 1.6 percent gain landed the weekly US Midwest bar fuel surcharge at $0.51 per mile.

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.