The week’s biggest mover on the weekly Construction MMI® was Chinese rebar, which saw a 3.7 percent decline.
The Chinese low price of 62% Australian iron ore fines declined, 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. Following a steady week, prices for US shredded scrap closed flat.
Prices for Chinese aluminum bar remained constant. The week finished with no movement for European 1050 aluminum.
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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.