Following a 2.1 percent decline, Chinese H-beam steel finished as the week’s biggest mover on the weekly Construction MMI®.
The price of US shredded scrap declined 1.6 percent over the past week. The Chinese low price of 62% Australian iron ore fines settled after shifting up 1.1 percent. The price of Chinese rebar rose 0.3 percent after falling 0.3 percent during the previous week.
Chinese aluminum bar remained unchanged for the week. European 1050 aluminum prices held steady from the previous week.
The weekly US Gulf Coast bar fuel surcharge finished the week down 0.7 percent. Following a 0.6 percent drop, the weekly US Rocky Mountain bar fuel surcharge finished the week lower. The weekly US Midwest bar fuel surcharge fell 0.3 percent last 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.