The week’s biggest mover on the weekly Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 4.1 percent decline. This week marked the third in a row of declining prices for the metal.
Our monthly Construction MMI report will be published later today.
Closing out the third week of declining prices, the price of Chinese H-beam steel dropped by 2.6 percent. Chinese rebar fell 2.4 percent over the past week. The price of US shredded scrap increased by a slight 0.3 percent over the past week.
European 1050 aluminum prices were off slightly, down nearly $20 from a week ago. Following a steady week, prices for Chinese aluminum bar closed flat.
The weekly US Gulf Coast bar fuel surcharge saw a 1.2 percent drop this week. The weekly US Rocky Mountain bar fuel surcharge rose 0.7 percent over the past week. Since last week, the price of the weekly US Midwest bar fuel surcharge fell after moving 0.2 percent.
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.