The week’s biggest mover on the weekly Construction MMI® was Chinese rebar, which saw a 3.7 percent decline to CNY 3,350 ($547.07) per metric ton. The Chinese low price of 62% Australian iron ore fines declined to CNY 975.00 ($159.22) per dry metric ton after drifting 3.0 percent since last week. The price of Chinese H-beam steel dropped 2.5 percent this week, closing out the third consecutive week of falling prices at CNY 3,490 ($569.93) per metric ton. Following a steady week, prices for US shredded scrap closed flat at $363.00 per short ton.
Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,294) per metric ton. At EUR 2,153 ($2,806) per metric ton, the week finished with no movement for European 1050 aluminum.
The weekly US Midwest bar fuel surcharge closed at $0.51 per mile after a flat week. At $0.53 per mile, the weekly US Rocky Mountain bar fuel surcharge remained essentially flat. Closing at $0.54 per mile, the weekly US Gulf Coast bar fuel surcharge remained unchanged for the 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.