Closing at $0.51 per short ton on the weekly Construction MMI®, the weekly US Midwest bar fuel surcharge finished as the week’s biggest mover with a 0.9 percent decline. The weekly US Gulf Coast bar fuel surcharge fell 0.9 percent last week, settling at $0.53 per mile. At $0.53 per mile, the weekly US Rocky Mountain bar fuel surcharge remained essentially flat.
The Chinese low price of 62% Australian iron ore fines rose 0.5 percent to CNY 940.00 ($153.24) per dry metric ton after falling 4.1 percent during the previous week. At CNY 3,260 ($531.46) per metric ton, the price of Chinese rebar finished the week down 0.3 percent. Following a steady week, prices for US shredded scrap closed flat at $364.00 per short ton. Chinese H-beam steel prices held steady from the previous week at CNY 3,400 ($554.28) per metric ton.
Closing at CNY 14,050 ($2,290) per metric ton, Chinese aluminum bar remained unchanged for the week. European 1050 aluminum remained essentially flat from the previous week at EUR 2,138 ($2,789) per metric ton.
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.