Following a 2.1 percent decline to CNY 3,330 ($543.70) per metric ton, 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, settling at $358.00 per short ton. The Chinese low price of 62% Australian iron ore fines settled at CNY 950.00 ($155.11) per dry metric ton this week after shifting up 1.1 percent. The price of Chinese rebar rose 0.3 percent to CNY 3,270 ($533.91) per metric ton after falling 0.3 percent during the previous week.
Closing at CNY 14,050 ($2,294) per metric ton, Chinese aluminum bar remained unchanged for the week. European 1050 aluminum prices held steady from the previous week at EUR 2,138 ($2,789) per metric ton.
At $0.53 per mile, 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 at $0.53 per mile. The weekly US Midwest bar fuel surcharge fell 0.3 percent last week, settling at $0.51 per mile.
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.